Judge Says Cases are Showing Up to 80% falls in Property Values

[Gimpanzee]

And the charm offensive in the Sunday Tribune 6/09/09
The Business Interview: Brian Lenihan, Minister For Finance

That isn't a reference to the property market, and I suspect you knew that... Here's the bit right above the quote...


Asked about the recent slowdown in the numbers joining the live register, Lenihan was not fully prepared to accept the conclusion of one daily newspaper that the worst is over.

"We are not out of the woods yet. There are green shoots. We are at or near the bottom.

Two more examples about how shoddy the Nama debate here has become.

[Peterdee]

Lenny is saying nothing about FAS, relatively speaking

[cactusflower]

Lenihan said that the property market was at the bottom weeks ago in a television interview. Couldn't believe my ears.

[slx]

I suspect the Government is adopting a 'LALALALA - I'm not listening' approach.

[HarshBuzz]

You're right. He didn't say it. And contrary to what HB says it is available :

RTÉ News: Morning Ireland

And people here go on about Lenihan hearing voices

so are RTE telling porkie pies in this piece linked to? (about 3/4 of the way down, I've put the salient part below)

The Minister later told RTE News that if the property market had further to fall, it could do enormous damage to the Irish economy and banking system. But Brian Lenihan said that was not going to happen, because the Government's study of the returns from property have shown that they are at an all-time high and characteristic of a market at the bottom.

[Gimpanzee]

Probably just written by someone who thought they heard something that wasn't said. It seems to happen a lot these days. Particularly when people want to believe that something crazy was said. So that they can say, look at him he's so crazy he said this "....". I think it reflects very poorly on them.

[HarshBuzz]

Probably just written by someone who thought they heard something that wasn't said. It seems to happen a lot these days. Particularly when people want to believe that something crazy was said. So that they can say, look at him he's so crazy he said this "....". I think it reflects very poorly on them.

OK, so RTE are wrong and Lenihan never said that the property market was bottoming out?

[powderfinger]

That isn't a reference to the property market, and I suspect you knew that... Here's the bit right above the quote...


Asked about the recent slowdown in the numbers joining the live register, Lenihan was not fully prepared to accept the conclusion of one daily newspaper that the worst is over.

"We are not out of the woods yet. There are green shoots. We are at or near the bottom.

Two more examples about how shoddy the Nama debate here has become.

You can suspect away Gimpanzee.
Lenihan's bottoms are interdependent.He could have been postulating on a number of bottom's.
The Slump Economy.
The Labour Market.
The Property Crash.

Opposition: Nama plan has ?15bn black hole | IOL

Mr Lenihan revealed that the current market value of the property and other assets for which the loans were taken out was €47bn, which means the taxpayer-backed Nama would be paying €7bn over the odds.

However, the Finance Minister argued that the property market was now “bottoming out” and the value of the toxic assets will begin to rise again, with the risks shared between the taxpayer and the banks.

“We are here to help the economy and people by putting our financial system back on track,” he said.

“We cannot do that by forcing banks to sell assets at below what would be rational prices for them.”

[Gimpanzee]

OK, so RTE are wrong and Lenihan never said that the property market was bottoming out?

Oh you trickster... I saw what you did there with the 'ing' ! Next you'll tell me that "But Lenny said the market bottomed last month. " is the same as "But Lenny said the market is bottoming out "

[HarshBuzz]

Oh you trickster... I saw what you did there with the 'ing' ! Next you'll tell me that "But Lenny said the market bottomed last month. " is the same as "But Lenny said the market is bottoming out "

I won't tell you anything of the kind

I'll just link to the RTE news interview with Lenihan on the day in question and people can make their own minds up

from 1.30 in; he says exactly what the orginal article quoted him as saying i.e. that there'll be no further falls in price and the market has bottomed out

next time you demean people's posts as 'shoddy', make sure you check your facts - it makes you look extremely foolish