House prices being slashed in panic to fund margin calls

[Green_Bear]

Well, if you thought that downtown Shanghai had a volatile property market, try the loftier suburbs of south County Dublin.
Houses in Rathmichael and Glenageary, among other places, have recently had their asking prices slashed by as much as 25pc.
A couple of trends are emerging. Anxious vendors are taking to placing simple box ads in the broadsheets in an attempt to avoid – not auctioneer commission – but having to put a sign up outside their gaffs.
Would-be buyers know nothing forces a price down like mildew growing on the “For Sale” sign outside.
Stockmarket gossip, possibly malicious, has it that we can expect to see a lot more €2-€5m homes creeping on to the property pages as a number of over exuberant punters feel the pain of CFD margin calls. >>>>

House prices being slashed in panic to fund margin calls
independent.ie/business/iris … 32543.html

[Eirmail]

This is gas. First they now admit house prices are cyclical . 12 months ago they still pedalled the line house prices can’t go down.
Secondly the feel sorry for the people selling at the bottom of the cycle.
Well if this is the bottom of the cycle what phrase will they have to use to describe the sitauation in 12 months time? Also they feel sorry for people who were activatley gambling their house on the stock market, Surely now is a time to take the position “You should not gamble your house on the stock market it is irresponsible and will get you into a mess like this”