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  1. #11
    Pidge Pidge is offline

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    Quote Originally Posted by Ponzi
    Some posters obviously believe that a bubble does not exist in the Irish housing market. I am curious to know how you see things panning out for the market and for the wider economy over the next twelve months?
    I can't really form an independent opinion, but I can point out how the ESRI say that the "picture emerging for the remainder of 2006 and 2007 is bright". The IMF expect "economic growth in 2006–07 to remain strong, driven by domestic demand and accompanied by a widening current account deficit and continued rapid credit growth. While the contraction of the construction sector to a more sustainable size over the medium term is likely to be smooth", while noting that "an abrupt correction cannot be ruled out."

    I've been flicking through these reports and the greatest fear I've seen in these reports is the fear of saying anything definite either way.
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  2. #12
    frankie frankie is offline

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    Quote Originally Posted by Ponzi
    Some posters obviously believe that a bubble does not exist in the Irish housing market. I am curious to know how you see things panning out for the market and for the wider economy over the next twelve months?
    I am in the process of buying apartment number 6 thats how confident I am in the Irish economy.There is no bubble going to burst,all that exists are a bunch of over educated dimwitted economists who time after time predict doom and gloom.

    In saying all that I have said I will admit that there is never a guarentee that things will stay good for ever but our economy is in good hands and even if FG got into power I am confident they could manage it quite well but Trever the terrible scares me.

    The only thing that can derail us at the minute is a world war which seems to be developeing between East and West.
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  3. #13
    Pidge Pidge is offline

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    Quote Originally Posted by Johnny
    I think all this "soft landing" rhetoric is put about by those who have a vested interest in the property boom.
    That's unlikely in an IMF report.

    Quote Originally Posted by frankie
    ...educated dimwitted economists....
    Were you waving a hurley about when you wrote that?
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  4. #14
    Pax Pax is offline

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    Quote Originally Posted by Pidge
    The Examiner seems to be spinning the report quite a bit.

    Here's how The Examiner introduces the article:
    THE Irish property market faces an “abrupt” downturn at the end of next year and not the soft landing predicted by the Government, the International Monetary Fund (IMF) warned yesterday.

    Which contrasts somewhat with what the report says. Do a search on the word "abrupt" in the actual report and you'll see what I mean.
    Given the appalling prediction record of the IMF ( so much so that money can be made, and is, betting against) then maybe the Examiner is reading it's report the right way around...i.e. vice-versa!


    ~ Winston Smith 'New, Improved Economy'

    http://en.wikipedia.org/wiki/Imf#Criticism
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  5. #15
    Pidge Pidge is offline

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    Quote Originally Posted by Pax
    http://en.wikipedia.org/wiki/Imf#Criticism
    Could you point out the part of that criticism which is relevant to this report or even Ireland in the past five years?
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  6. #16
    Johnny Johnny is offline

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    Quote Originally Posted by Pidge
    Quote Originally Posted by Johnny
    I think all this "soft landing" rhetoric is put about by those who have a vested interest in the property boom.
    That's unlikely in an IMF report.
    You posted above:

    "The IMF expect "While the contraction of the construction sector to a more sustainable size over the medium term is likely to be smooth", while noting that "an abrupt correction cannot be ruled out." "

    The IMF are speaking out of both sides of their greedy mouth here.

    I was specifically refering to the government, the legal profession, the banks and the builders - all of whom, through their pandering latchicos in the media, will seek to maintain the facade that all is well in the property mnarket when it so obviously isn't.
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  7. #17
    Pidge Pidge is offline

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    Quote Originally Posted by Johnny
    You posted above:

    "The IMF expect "While the contraction of the construction sector to a more sustainable size over the medium term is likely to be smooth", while noting that "an abrupt correction cannot be ruled out." "

    The IMF are speaking out of both sides of their greedy mouth here.

    I was specifically refering to the government, the legal profession, the banks and the builders - all of whom, through their pandering latchicos in the media, will seek to maintain the facade that all is well in the property mnarket when it so obviously isn't.
    So hang on, do the IMF have a "vested interest" in the Irish property boom? If so, what is it?
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  8. #18
    Pax Pax is offline

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    Quote Originally Posted by Pidge
    Quote Originally Posted by Pax
    http://en.wikipedia.org/wiki/Imf#Criticism
    Could you point out the part of that criticism which is relevant to this report or even Ireland in the past five years?


    Can you not see any relevance to the report or indeed Ireland's recent history?
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  9. #19
    Johnny Johnny is offline

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    Quote Originally Posted by Pidge
    Quote Originally Posted by Johnny
    You posted above:

    "The IMF expect "While the contraction of the construction sector to a more sustainable size over the medium term is likely to be smooth", while noting that "an abrupt correction cannot be ruled out." "

    The IMF are speaking out of both sides of their greedy mouth here.

    I was specifically refering to the government, the legal profession, the banks and the builders - all of whom, through their pandering latchicos in the media, will seek to maintain the facade that all is well in the property mnarket when it so obviously isn't.
    So hang on, do the IMF have a "vested interest" in the Irish property boom? If so, what is it?
    I never said they did. I was merely stating that they are saying nothing of substance here.
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  10. #20
    frankie frankie is offline

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    Quote Originally Posted by Johnny
    Quote Originally Posted by Pidge
    Quote Originally Posted by Johnny
    I think all this "soft landing" rhetoric is put about by those who have a vested interest in the property boom.
    That's unlikely in an IMF report.
    You posted above:

    "The IMF expect "While the contraction of the construction sector to a more sustainable size over the medium term is likely to be smooth", while noting that "an abrupt correction cannot be ruled out." "

    The IMF are speaking out of both sides of their greedy mouth here.

    I was specifically refering to the government, the legal profession, the banks and the builders - all of whom, through their pandering latchicos in the media, will seek to maintain the facade that all is well in the property mnarket when it so obviously isn't.

    Dear Johnny
    I really hate telling you this but Santa is dead actually he never really existed. Its just like communism a big joke.

    Build a bridge Johnny and get over it.capitolism has served the people well in Ireland and in most other countrys and the only BUBBLE bursting at the minute is the communists one
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