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About LinkBacksMore evidence to the contrary
More than 30 parties chase AIB branch on Grafton Street - The Irish Times - Wed, Nov 25, 2009
More evidence to the contrary
More than 30 parties chase AIB branch on Grafton Street - The Irish Times - Wed, Nov 25, 2009
I knew that myself but I find it hard to believe how NAMA will make the properties more attractive? they will be even more unattractive, toxic debt is not a good sales pitch.Originally Posted by politicaldonations
We have to hold onto them until the market returns and we are broke?, why cant the banks hold onto them, they are far from broke.
From irisheconomy.ie, 27 May 09:
"When the NAMA Project was announced (Apr 09), Peter Bacon discussed the pricing process as follows on Morning Ireland:
Peter Bacon: It will be set by reference to the market. The market, as you know, has fallen dramatically. And I think people have overestimated the difficulties in estimating what these market values are.
John Murray: At the moment there is no market.
Peter Bacon: Well, there is a market.
John Murray: Nothing is selling.
Peter Bacon: For example, in the residential sector, you have monthly indices telling us how house prices have fallen by 1.4% to whatever level. We have information about yields on commercial properties moving out to 8%. I think a lot of people are saying “well, there’s no market” but really what they’re saying is “we don’t like the answer that’s there.”"
The Irish Economy Blog Archive Market versus Economic Values
The elite want to stop market clearing prices because it will ruin them. They want to control supply and prices as they have been doing up to now. If normal volumes were sold prices would tumble.
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