I’m suprised to see after Eddie Hobbs was quoted in another article that he would recommend to wait for 18 months to 2 years for FTB’s to see how the market pans out, to read the following :
“A fall in residentital prices, especially in weaker segments of the market, is the inevitable outcome of a sustained property boom. It’s not a big deal - prices are likely to crab sideways for a long time yet, as long as the global and irish economic ship remains on an even keel. But there is no crash; power is finally swapping from buyer to seller after 13 years …”
Once again Mr. Hobbs has shown that in fact he has either little or no grasp of economics or everything he says is to an agenda (maybe to get his old schoolmate Minister Martin out of office). His TV show was remarkable in only one respect how jaw droppingly simplistic it was, all he said was “the government wastes money and if you spend less money you’ll have more money” well DAWWW. He really adds nothing to any debate he ever wades into, biggest waste of money anyone found out about from that show was on the show itself.
Wish presenters would change his title from ‘financal guru’ to "THE FR. DOUGAL OF ECONOMICS EDDIE HOBBS!"
Dose he ever research anything “But there is no crash; power is finally swapping from buyer to seller after 13 years …” yes Eddie thats what appears to happen just before a crash buyers won’t pay the bubble prices sellers won’t sell for any less till the sellers who have to sell do so causing the price paid for the only sales going through to drop thus prices drop and panic sets in. This is a huge of danger of investing in a market with great difficulties and delays in realising the paper value of your assets the advantage is the drop takes longer unlike the stock market in which assests have a well known market value.
When you have a country that is for the most part financially illiterate, what do you expect?
They listen to Eddie Hobbs because he keeps it simple and digestable for them, and throws in a bit of humour. For all his qualities as an honest economist, you could never accuse George Lee of being funny!
He plays to an audience that just isn’t on the same level as you or I in terms of financial awareness, he recognises that and speaks accordingly.
Oh, I’m not so sure. I sometimes get a hint of wry humour, just through how he phrases things, that suggests he’s fully aware of how ridiculous the financial messes he’s reporting on are. Maybe I’m only imagining it, but it keeps me smiling anyway