EA's : Spinning has restarted

I hear what you’re saying here but I would say (if you can) stick to your guns and continue to rent - prices have to fall as the current situation is not sustainable. It’s catch-22 banks are in over their head with developers/property and liabilities far outweigh assets which is only compounded by the global liquidity problems. Like a good pyramid scheme the high property prices are underpinned by (potential) mortgage holders who simply won’t be able to continue paying such exhorbitant prices. As this base erodes prices will come down - I expect a big drop over the next 12 months.

[quote]
[prices have to fall as the current situation is not sustainable. It’s catch-22 banks are in over their head with developers/property and liabilities far outweigh assets which is only compounded by the global liquidity problems. Like a good pyramid scheme the high property prices are underpinned by (potential) mortgage holders who simply won’t be able to continue paying such exhorbitant prices. As this base erodes prices will come down - I expect a big drop over the next 12 months.

I hear what you’re saying here but I would say (if you can) stick to your guns and continue to rent - prices have to fall as the current situation is not sustainable. It’s catch-22 banks are in over their head with developers/property and liabilities far outweigh assets which is only compounded by the global liquidity problems. Like a good pyramid scheme the high property prices are underpinned by (potential) mortgage holders who simply won’t be able to continue paying such exhorbitant prices. As this base erodes prices will come down - I expect a big drop over the next 12 months.]

Not if you believe the bould Ronan. Apologies if it has been posted elsewhwere. Its very shocking to see this view in all its glory. At least Alan Ahearne gets the last word.

irishtimes.com/newspaper/opi … 09824.html

“Most developers, however, are now offering excellent value, yet demand has not been stirred.”

Built on the foundations of this faulty assumption, the edifice of his entire argument collapses.