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TV3 - Video
Judging from what was sais as per discussion on the propertypin, pessimistic would be an understatement.
For those who missed it last night (including me) its here.
TV3 - Video
Judging from what was sais as per discussion on the propertypin, pessimistic would be an understatement.
I saw it last night.Originally Posted by Partizan
The hype meter is TV3 is obviously still stuck in overdrive.
There's no doubt there is a severe problem in the property market, but the degree to which the media has created a 'God save us all' mini-industry out of it is nauseating.
Of course, Justine McCarthy from the Tribune was on telling us all that Negative Equity was going to eat our children. She didn't explain why, but what the hell, it sounded good.
A demagogue is someone who will preach doctrines he knows to be untrue to men he knows to be idiots.
Fair play to TV3, it was a good show. They can now forget about getting any cut of the licence fee after telling the truth about the vested interests in Ireland and how they screwed everybody. Was also nice to see that they pointed the finger at Zanu-FF and their policy of not zoning much land for development.
It was funny that Brian Lenihan agreed to appear on this programme.
Insisting he now wanted to close the special tax schemes for developers without admitting that they were a terrible idea.
It is funny that the developer who believes we have hit the floor will be able to watch this in a year.
Also that the estate agent “Not a snowballs chance that the prices will drop any further””
What an idiot.
Do Zanu-FG and Zanu-Lab not control quite a number of the councils at this stage - relevant because as you know it is at the local council level that zoning is carried out and not at national level.
Adrem - you were asked before - what is your obsession with "Zanu"?
“A healthy social life is found only, when in the mirror of each soul the whole community finds its reflection, and when in the whole community the virtue of each one is living”
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You forgot to add "they're talking us into a recession". Or has the FF choir dropped that one from the hymnsheet?
“A healthy social life is found only, when in the mirror of each soul the whole community finds its reflection, and when in the whole community the virtue of each one is living”
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thanks for that.
i missed it myself so its great to get a look at it.
I like when people use the Zanu moniker for political parties in a democracy subject to the European Convention and rule of law; it means that they are loons who can be ignored without having to read the rest of their post.
Its right up there with people who say:
all civil servants are lazy or Bertie should be jailed (for which offence they don't specify) or cancer was too good for Haughey or pretty much anything personal written about Harney or that Ireland is the most corrupt state in Europe or the economy has collapsed.
But you have to read the above. Using Zanu is much quicker to identify these people.
Zimbabwe African National Union ? Patriotic Front - Wikipedia, the free encyclopedia
Morgan Kelly was on, and apart from taking the title of the most gloomy man in Ireland from George Lee, appears to have been correct in terms of the price drops which he predicted in December, 2006(http://www.ucd.ie/economics/staff/mk...s/housing1.pdf) .
Last night he said that property which currently are "valued" at €700,000 to €800,000 will fetch €250,000 at best. Has he gone too far (and beyond his own previously pessimistic, but as yet unproven, predictions)?
and, later said,How far are prices likely to fall when the bubble bursts? If we suppose, optimistically, that prices were more or less in equilibrium with income and rents around 2000, then house prices are about 25 per cent over-valued now. Unfortunately, when house prices fall they generally overshoot and end up undervalued. It is not implausible that prices could fall, relative to income, by 40–50 per cent.
In Ireland, if and when the fall occurs, it will be from around 18 per cent of national income. We could see a collapse of government revenue, and unemployment back above 15 per cent.
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