Irish House Prices to Fall 60% From Peak, Jim Power Says

F’ing crackpot.

Linky link link ?

Man predicts market to fall 60% after it has already fallen 45%.
What was he predicting in 2006 ?

only 60%?

for a minute there I thought it was a crash…

Don’t worry, we’ll have a soft landing.

But, but, but… NAMA… 10% over 10 years… Ronan’s sums


Sorry, no link. Copied and pasted from Bloomberg.

Remember this sound … thump…thump…thump… crash, this will be the property market hitting the bottom and going through the glass floor just before it hits Power on the head. :unamused:

Feb 07 … feb_07.pdf

Nice find grumpy!

I’ve been keeping a hawkeye on D6w & D14 and that 45% figure seems very large to me. On top of that he’s predicting a fall of up to 27% from current values by Autumn of next year? That’s a big call.

The phrase ‘si tacuisses, philosophus mansisses’ springs to mind.

I think he is shy of the mark (not by the timeframe you mention next autumn) but the fact is the current state we are in along with banks growing reluctance to lend and increased taxes will even reduce the exuberance of someone on a guaranteed salary to dip a toe in the market.
Some markets are more sticky than others but that is only a matter of time and bad government to push these down further.

A strange mixture of quotes…

Grumpy - post of the week. Great catch. Mr. Power’s statement is so perfectly wrong that one of us lot could have made it up.

And look at the language: “gradual slowdown” = soft landing, “solidly based [market] in the medium-term” = the fundamentals are sound, “sustainability” = new paradigm. Those are three of the key totems of bubblenomics right there, being trotted out by one of the country’s most high profile economists…how bloody embarrassing is it that his analysis was no more sophisticated than that of all those barstool property magnets-come-jackasses? Gobshite, gobshite, gobshite.

use this

What a genius. He’s learned the art of economic predictions… ‘the trend is your friend’.

He wasn’t so smart 18 months ago when he said this…

Link to Indo, April 08.

Land has since proved to be the most disastrous investment since then.

Total Powerballs. :confused:

Have we found Jim a new name … alongside comical austin and desperate dan ? for those of you looking for the link.

This attempt to wrap up the market in one figure tells us nothing.
We already have some properties down more than 60%

The crash that people including Power predicted would never happen has happened.

So go away Jim. Fortune Cookies are more reliable and have the benefit of being a delicious cookie.


Jim Power has a brain fart whilst taking a dump in Friends Provident HQ.
“House Prices in 2009 will drop”
lying scum PR company brought into the loop,
they contact useless ignorant journalist to arrange press conference,
media print and an RTE muppett is sent along
banner headline Friends Provident Top economist warns of house drops (dated Nov 09)
Friends Provident take a 1/6th page add in IT
Jim has dinner that evening with Financial regulator and Govt ministers
Garda drivers wait on overtime outside Greens restauraunt
everyone shoots off home, pocketing receipts and noting the time on the clock for their OT sheet that week.

tax payer picks up the tab for the consultants for the dinner, gardas overtime, jims top quality advice, dail commission to review Jims advice , the disastrous consequences of taking Jims advice circa 2007 and also the hefty tip left for the cute eastern european waitress who delivered the sweets trolley.

thats how the shit works folks… wise up .