A thoroughly nauseating article.
Wont’ somebody think of the VI’s.
I dare say dear Ken won’t like this…he’s telling us that there’s a lot of confidence…
So everyone trying to sell thru his estate agents is selling an empty property?
Now comes the the schizophrenia.
On one hand. We have to become more competitive; watch costs, remain attractive to investors and support jobs.
The other hand. We have to maintain high prices, keeping Irish housing amongst the most expensive in the world.
Well, that should get SPUC and the Catholic Church on side for the removal of stamp duty … now, if only we could remove VAT on condoms …
Damn you giant condom!
Well! Of all the quotes that I have heard, this one takes the biscuit. Young couples can’t have children, as they are restricted because they can’t afford to trade up to a bigger house. I take it, that they need the bigger house to fit the children in. I recall being completely disbelieving what I heard in an advertisement years ago; it went something like
I think the ad was for Bank Loans.
I remember when a national known clergyman stated publicly that a child was just a “commodity” in today’s world. He was blown asunder by politicians and the national media. How dare he say such a thing!
Children aren’t commodities, how dare someone say that, they are resources and pension provisions!
Why did something not need to be done when prices were soaring out of the reach of ordinary people? State intervention attempting to keep prices down at that time would have been universally derided as being illiberal etc. However, once the trend is in the opposite direction the State is called upon to step into the breach and bail the VIs out of the hole which they have dug for theselves. On the other hand its not altogether clear exactly what it is that needs to be done. Apart, of course, from amending stamp duty
Theres something quite childish about the behaviour of many of the main players at this stage of the game. These people are role models for many within our society. Its quite disheartening to see them all flailing around looking for someone to blame, anyone but themselves. Still not even a hint of anybody actually prepared to question whether the madness of the past few years was perhaps a tad excessive. No, instead we’ll all stick our heads in the sand and go out and buy Marc Colemans new book about how the Celtic Tiger is only getting warmed up.
Bacon Report → Implementation → State brings Market under control → Vested Interest GO MAD! → U-Turn On Bacon within year → Petrol is poured on the economy… the show starts again … until we reach NOW.
Well indeed. Welcome to a capitalist republic. 5 years ago the government had no business interfering in the market via bacon. Now Clowen is guest of honour at the institute of bankers bash where his ear can be bent to intervene and save the day.
No Mr. Wyse. The reason that families cannot afford to trade up is that VI’s like yourself have driven up prices to the point that there is massive difference between the value of their current home and the one they wish to purchase. If we see an significant price drop then the difference will be less and the new house will fall into a lower stamp duty bracket. The combination will more than compensate for any currently forseeable drop in stamp duty and this way the stamp duty revenue does not fall significantly. If you really want to do something pro-family then get your fellow EA’s and other VI’s to stop talking up the market, publish figures for actual sales volumes and prices and allow the market to return to a natural level.
Or perhaps Mr. Wyse & Co. more concerned that the current situation is anti-EA/VI than “anti-family”.
That just about sums this article up. These guys discust me.
So, lets tweak stamp duty (again) and everything will be fine! Just anything to avoid the huge fecking elephant in the room wearing a luminous T-shirt that says “PROPERTY IS OVERPRICED!!!”