Is it almost time to wrap the pin up?

Of course I love the site, and I like its civil posting style. But isn’t it logical to wrap up at some point after the argument has been won?

If the point of the site is something like to point up the absurdity of excessive property prices, what purpose does the site serve when virtually everybody agrees that there was a major bubble and that prices need to fall?

I don’t wish to offend anyone by posting this, and I’m open to the notion that there’s a good rationale for keeping the site going as we plumb the depths of the housing crash. But I’ve moderated sites before, and it’s hard work.

Ah there are still plenty of Michael Lynns to come!

My reckoning is we’ve a bit to go before we reach the peak.

where will we all go! AAM? or start a new sight called ‘life in the bottom’ and then some other day another one called ‘the boom time’?

i think this place has moved away from bear-justifications to smart economics, i’m stayin’ put!

although point taken on arguement won etc.

I’m pretty sure Irish property will continue to find ways to be worthy of comment, even when prices have really crashed.

I think the best is yet to come in the form of justification for the time and effort shown by the people behind the pin i.e. founders, moderators and contributors regardless of being for or against an arguement.
I would add to that I have learned a lot from this forum so far and would consider based on that fact I will learn a lot more moving forward.
I consider the Pin to be like wearing new glasses in that you never realised how blind you were until you learned to see. 8)

All forums die as people slowly leave and the number of posts dwindle. I say let nature take its course.

I thought the plan was wait to for rock bottom , switch the name of the site to thepropertypimp.com. Get everyone on the ladder and drive prices back up.

It should be closed if Austin or Tom ever direct people to the pin for advice!!!

So let’s see. House prices increased by about 400% between 1996 and 2006.

The IMF recently came out with the statistic that we have the most overvalued housing market in the world.

Asking prices have come down 1.2% from peak and you’re waving the chequered flag already? :confused:

Reading this site is like reading the news about six months in advance. Where else am I going to be advised sensibly and truthfully about when we’re actually reaching solid fundamentals again.

And besides - theres all sorts of fun to be had yet with the potential for a dead-cat-bounce where we try to determine if this is a dcb or the actual bottom. :slight_smile:

I did some serious soul searching about a month ago let me tell you. I’ll say no more.

Warnings as to the excesses & dangers are now well past their time.

We are all relatively agreed its is a text book scenario as night follows day, there is a whiff of the trainspotting about it at times as we sit behind computers with pen in hand filling out the blanks. Not a terrible thing but some can interpret it a a kind of pin hubris.

I think whats is most important is as a matter of record this site still has its worth.

I agree the discourse has been fairly civil compared to other forums and that is great as it helps us to moderate lightly thank you very much.

Yes and some of the stuff is months in advance of anything you get in the media, I think thats the power of the internet filtered by collectively interested people.

What has been the most enjoyable aspect is the bouncing of ideas and using the collective wisdom to crunch the numbers with lashing of the anecdote, the power of this, the sustainable and balanced nature of this collectivity is really heart warming and should leaves us all feeling more optimistic than cynical in the long run.

I think the pin will go on longer than any of us wanted it to or expected it to, in the depths of the shakedown I think we’ll all need a outlet.

We are recording history here. Maybe there will be a book in it when the Pin shuts up. Maybe it can be made available for the next bubble lest any muppet think Ireland is in fact different.

As for the moment. The drops have only started. It is immature in the extreme to talk of ending the Pin.

Shut down the Pin? I’m starting to think Desperate or Comical has gotten to you rock3r. :open_mouth:

wrap it up?

its the best Irish based forum around!

Anyone who was reading www.itulip.com back in the days of the .com boom might have asked the same question.

iTulip is going stronger than ever and is actually a more interesting site now than it was back then (In my opinion).

I don’t agree that “virtually everybody agrees that there was a major bubble and that prices need to fall”. Don’t confuse common knowledge on the pin with common knowledge in general.

An awful lot of people still hold the belief that their house really is worth 2006 prices, and that there are no buyers simply because of a lack of confidence or antics with US banks, and that normal service will resume any day now.

At the weekend I looked at a house down at home that has been on the market for a year. They’ve dropped the price by 5% and done some (unnecessary) work to pretty up the front of the house.

Still nobody interested. They haven’t grasped that a 5% drop when houses have fallen by 10%-15% means their house is more expensive than it was last year when nobody was interested.

A surprisingly large proportion of people still just don’t get it.

And remember there’s still a lot of people getting the “fair and balanced” coverage on AAM, who knows what they think is happening!!!

-Rd

Daltonr said

I see from the above statement you obviously have a healthy imagination and have employed it in this instance. :laughing:

Nope. An unhealty interest in US media actually.

en.wikipedia.org/wiki/Fair_and_balanced

:wink:

-Rd

I’ve been reading this forum for 6 months or so and I think i posted twice. Mainly because I have no background in matters financial and hence not much to add to the discussions.

This place has thought me an unbelievable amount about property in particular but also about the financial world in general. Before reading the pin I was one of the “get on the ladder” muppets without a clue of the underlying house of cards. I’m currently living in the US and returning to Dublin in the next few months. I thought briefly about “getting on the ladder” when i came back but decided to educate myself a bit before I did anything rash. Well I found the pin and the rest is history. This place was a revelation.

It was like being 15 or 16 and slowly realizing religion is all made up (don’t want to start a thread on this, just for the sake of comparison). Everything you have been told is all smoke and mirrors. You listen to the guff but it just doesn’t fit together. Too many lose ends and contradictions, It sinks in slowly at first and after a while you simply can’t believe your own naive acceptance of the status quo.

Please don’t shut this place down. I’m still green as the grass and I have a lot to learn. If this place goes then I’ll have to do an awful lot of work to find the precious info posted here by so many fantastic posters.

Finally, thanks to all the regular posters. You have prevented a lot of people from making some very stupid mistakes. I know more than a few who weren’t so lucky.

Don’t assume that people who post a lot have a background in finance.
Me claiming to have a background in finance would be a bit like a mechanic claiming to have a background in motor racing.

-Rd

If Rd is a clerk, I’m looking in while washing the windows :laughing:

Agreed, I like to think I have a backround in common sense as I was raised by two very down to earth parents.
They played that song “So many colours in the rainbow” on the radio yesterday, I hadn’t heard it in a while. The gist of the song is that a boy who wanted to do his own thing is made to conform and eventually does as he is constantly singled out for being wrong. Felt apt.
I thought like a pinster long before I got to this site but who knows without this site what i would have done. Would I have held out for an extra two years. I can’t say, but I feel the pin has an awful lot to add yet. I might have to throw a farewell party maybe in 2010 but there is a bit to go in this yet.