Market on the floor at end of a GUBU year - IT

Kerrynorth referenced this article in his 40% drop thread here viewtopic.php?f=4&t=16149
but I think it deserves a thread all of its own. Appraently the market will turn a corner in 2009. :unamused:

irishtimes.com/newspaper/pro … 71476.html

So, by his own admission 2009 will over purchasers REAL value. Pathetic and depressing propoganda.

Do these people live in the real world?

Who is going to be buying houses when they fear that they will lose their job- what was Davy’s forecast again this morning?

Where is that smiley for knocking your head off a brick wall when you nee it?

Yawn, a property VI calls the bottom of the market. Again.

So that’s about twelve years in a row of GUBU then, eh Ronan.

His assumption about interest rates is a no brainer. But it’s only a life-support mechanism for beleagured Cannys and negative equity homeowners.

It’s not going to lead to any resurgence in house prices. The best he can hope for is a return to market activity at prices around current dealing levels.

“What is certain is that, like bank shares, property prices are attractive right now and those willing to make an early move should enjoy the maximum gain.”

Ah c’mon, you have to be taking the piss. I would like to propose this one for a golden pin.

This guy must be up the walls at the moment buying Anglo.

I’ sorry but interest rates are a small part of the picture. I mean mortage rates have been <3% in Japan for the last 10 years and prices are still sliding. Its the availability of capital that influences prices much more.
That story is not improving and will unlikey see the 2006 heights of exuberance again for decades.

His definition of victim is interesting.

He droped prices, his houses started selling. The rest of the market dropped prices, his houses stopped selling.

That isn’t being a victim of your own success. That’s getting ahead of the market, and not having the good sense to stay ahead.

House prices need to fall in order to sell. Well dress me in a tutu and call me Brenda. Who’d’ve thunk it.

-Rd

Had the conversation with an EA today and made the same point. He said that the completion of the motorway at the end of 09 will make where I live more attractive to commuters - why I said? Have we no dole office here?

EA’s seem always to be calling bottoms…its called Anal retentive syndrome or ‘ars’ for short.

The Irish times through Keith Lowe and Ronan O’Driscoll were really pushing the bottom of the market line today.

Ignoring the highest unemployment figures since 1996, the incredible oversupply of new houses (even Tom Parlon said it was 40,000 last night on Matt Cooper while O’Driscoll brought it down to 30,000) and an economic recession that has only begun to bite.

But the argument seems to be that because weve had 2 bad years, therefore prices must rise again.

Good luck guys, good luck !!!

https://cdn-www.cracked.com/articleimages/dan/simpsons/gil.jpg

“No, wait, no. Aw, you can’t take my sale. My wife’s going to leave me if I don’t start bringing in the green. Come on, let me have this one, I’m begging you. Look at me, I’m begging you.”

P.