Cowen Rules Out Stamp Duty Changes in Budget!

[kerrynorth]

Brian Cowen has ruled out any change in the stamp duty regime in December's budget. A slap in the face for Mc Dowell? It is somewhat ironic that Mc Dowell's 'off the cuff' ramblings last month after becoming the PD leader may have the most lasting effect on the economy as we are now withnessing the gradual sliding towards outright recession in the Dublin housing market. Evidence the Irish Times article today where houses are coming on the rate of knots and buyers are thin on the ground. Buyers, with their new found strength in the market, will hold off until they see the market heading for the floor, as happened most recently in Japan.

[Pidge]

A slap in the face for Mc Dowell?

No, I don't think so. McDowell specifically said he wasn't going to push for stamp duty changes in this government.

[eurocrat]

Brian Cowen has ruled out any change in the stamp duty regime in December's budget. A slap in the face for Mc Dowell? It is somewhat ironic that Mc Dowell's 'off the cuff' ramblings last month after becoming the PD leader may have the most lasting effect on the economy as we are now withnessing the gradual sliding towards outright recession in the Dublin housing market. Evidence the Irish Times article today where houses are coming on the rate of knots and buyers are thin on the ground. Buyers, with their new found strength in the market, will hold off until they see the market heading for the floor, as happened most recently in Japan.

You don't think the ECB interest rates hikes (and expectation of more hikes) might also be a factor?? You are giving McDowell way way too much credit.

Also, one Irish Times article is hardly overwhelming evidence of a 'gradual sliding towards outright recession'. Which is a bit of an oximoron, considering an outright recession (not the right word for a housing market, btw) would propably be rather sudden.