Major ECB rate cut draws approval from Marian

It didn’t take long…

irishtimes.com/newspaper/bre … king51.htm

EVERYONE BACK INTO THE POOL!

A few (3) Canny types I have spoken to recently have said that they are considering re-entering the market as rents v interest rates (rents are falling but not as quickly as interest rates) are now re-entering profit scenarios.

The long awaited dead cat bounce scheduled for 2009? It wouldn’t take much for a spring blip to appear on the radar.

Memo to Marian:

Interest Rates are being slashed because Western economies are tanking at the fastest rate seen in the last 70 years.

there is just the small matter of the other 20,000 unlet rental properties all competing for a rapidly diminishing pool of tenants

Spring blip 2009?

blink and you’ll miss it…

the VI’S may attempt one more co-ordination of a synthetic rally but a 10% increase in clearing prices would probably represent a further reduction for 90% of the properties advertised as for sale at the moment

Supply is too great and delusion still too rife for anyone to notice any kind of technical price recovery, combined of course with the absence of any actual market figures.

well if there are still some people out there going to “reactivate the market” they cant expect the state to bail them out when their investment goes belly up

If Marian approves then the ECB have definitely made the wrong decision.

The chat on Eamon Keane on Newstalk was that BTL mortgages wouldn’t get the reduction.

And in an updated version of the article Parlon gets in on the act…

Wonder if McWilliams Debt Forgiveness idea is gaining some traction?

This reduction is all well and good but where do banks get the money to lend given that the securitisation market has tanked!
Our banks are under-capitalised at it is, YET people think they can start lending AGAIN because interest rates have fallen.
It just doesn’t add up!