Irish House Price Correction Complete, Standard & Poors Says

Chaaaaarge, get in before it’s too late.

So there will be supply but no demand for another couple of years, yet prices will not fall any further? Mmmmmkaayyy…

Linky schmink schmink?

ha ha ha ha ha

As it’s “verbatim” I would say it’s hot off a Bloomberg terminal - probably will be on generally circulated in a couple of hours.

Will post it when it appears.

Sounds like the same old story, assuming that a sensible price is 2.5x the (joint) income of the prospective buyers, then prices are likely to still continue to fall as incomes fall back.

i guess they worked this out as the 12% increase from this time last year has cancelled out the undervaluation in the market
irishtimes.com/newspaper/bre … ing27.html

seems like an annual comedy show from these jokers.
although surprisingly lacking in any sort of wooly language

although cant find the report so may just be a joke…

OK own up, who left the lid off the prozac jar again? :wink:

We must be back to 2005 so. :wink:

Ho! Ho! Ho!
( sorry, wrong time of year for that)

One of their important clients must be trying to offload a stack of RMBS. Once they offload them the decline will resume.

What’s really astounding is that anybody will listen to S&P after the last decade (and more probably) when every piece of analysis they made has turned out to be complete rubbish. I guess it’s just another indicator that there is actually no real open market at all, and the likes of S&P are just used to provide reasoning as to why we should pay the prices we pay. It all reminds me of that scene from the Matrix: “Do not try to bend the spoon — that’s impossible. Instead, only try to realize the truth: there is no spoon.”

I like Dara Doyle,
he always tends to find some great quotes like this one from Alan Barrett

A modest suggestion for Standards are Poor:

Get a grown-up to read your reports before issuing them.

This one in the same article is also class:

XX

Edited to delete. Too harsh :slight_smile:

imarketnews.com/?q=node/30243

irishtimes.com/newspaper/fin … 46665.html

While I am overall mnore heartened at the Exchequer returns being on trend for 4 whole months I saw De Paper ran with this in the lead today.

examiner.ie/ireland/sp-house … 53581.html

Savills hedged their bets :slight_smile:

Notably S&P are cheerier than our commentatorati…why didn’t they get a rentaquote from Dan or Austin ???

What a load of BS!