An article by Marc Coleman on p.22 of today’s Sindo as highlighted on the front page. I can’t find it online. Please, please, please will someone out there who has bought the Sindo this morning (and showered afterwards) please post up the great sages words for posterity. Clearly the best is indeed yet to come!
Property - why we are reaching the bottom: Marc Coleman
To summarise, we don’t know what the fock is going on! Were all talking shite and all we have to do is build some roads to Roscommon and Leitrim to make them desirable (not sure what he can do for Sandyford) then abolish stamp duty, re-introduce CGT and with the help of God this will cause prices to start rising again in early 2009!
Oh and the bailout of the banks will cost a mere €15 billion “diddly squat” in Marc’s words.
Coleman’s book is sold out on amazon.
(for all the wrong reasons I’d imagine)
This article is utter rubbish.
It is a futile exercise best characterised as flailing about locating fundamentals that simply do not exist and even if they do exist they are meaningless overall .
1 in 8 of 16-24 year olds are unemployed. Did you notice or did you choose NOT to notice or to tell us . I care less either way.
Marc. You and many of your shilltastic commentatorati friends always try to ignore the elephant in the room.
" It’s the Empties STOOPID "**
Where are those half a million going to find jobs in the next few years, now that the main engine for jobs creation over the past decade (construction & public sector) are in reverse?
Remember this crowd back in 1979 and their experiences of the Ireland’s lost decade - the '80s.?
Ireland’s main response to economic downturn and mass unemployment has always been high taxation and emigration and there is nothing in the pipeline to indicate the situation will be any different this time. Fortunately, they are young and not tied to a mortgage and can seek opportunity elsewhere in the world, but how can you can be sure that they will be chaining themselves to a lifetime of debt, like the generation that preceded them did?
Is her future a lifetime of debt in Ireland or on the first plane out of Knock airport?
Finfacts has come up with some absolutely choice comments in the past year or so , maybe they should host an Irish ’ Economists’ vs Pinsters head to head shindig and let us have at them
This guy really does make it up as he goes along, ‘we need this 4% correction over the next couple of years’. What happened to your beloved soft landing Marc? I would say a collection of quotes from this clown over the last couple of years would be a hoot.
How come, we are back at 2003 prices in much of the country with the Dublin market about to capitulate in the next few months as the banking crisis gets worse.
14% overvalued, yet in the financial stability report 2006 we find this?
Pg 28 Financial Stability report 2006.
Marc Colemans lack of critical analysis is his downfall, he bought the soft landing crap hook, line and sinker like all the establishment figures did.
Like I said before “mental midget”. I now think I might have been overly generous in that assessment.
how can we be hitting the bottom if the recession only just started?
Who employs these people
Heres a prediction, I haven’t read the article yet but I am going to go out on a limb and say the man is a tool and the article is complete nonsense…
…right I’ll read it now and see if I was correct.
I hear he has gotten an advance on his next book “No! you shut up!”
If the population does grow by 500,000 over the next decade and if we assume that household size remains at about 2.6 people, then we need to build approx 19,200 new homes per annum. But we don’t, we have 300,000+ empty homes so a housing supply sufficient for about 15 years of population growth.
If Coleman is going to address the issue of housing in Ireland he has to start facing the facts, no matter how unpalatable they may be to him.
Always with the “stab in the back” excuse.
Leaving cert numbers have been dropping.
If you have a spare 700 yo-yo’s you can see Marc expand on his Focherian views at Croke Park on the 13th Nov.
Other speakers scheduled to appear include,Brian Lenihan,the bould Country Tom and Ken Livingstone.Many other vested interests in Private Finance ‘Initiatives’ for Public Capital Projects are going to say a few words.You can see the Agenda here
wonder what he has in mind?
why is he always so optimistic? I thought he was a member of fine gael? did he switch sides at some point?
This is a shambles of an article.
I have a serious problem with this guy passing himself off as some sort of authority on the economy. He claims that those who oppose him have ‘no quantitative discipline to back their statements’ and backs up his journalistic bull with stuff like ‘as those with Economics 101 know’. I think this guy is a complete and utter charlatan trying to pass himself off as an economist and trying to cloak himself in expertise. At least people like Brendan O’Connor don’t try to hide their ignorance behind a veil of socio-demographics and a dash of economics 101 lite. I don’t know how this guy got to be economics editor of anything. We actually have alright economics editors in the Irish Times (late Paul Tansey) and Irish Independent (Brendan Kennan I think his name is)… can they not get someone with some sense to replace this chump?
Perhaps the following article from yesterdays Daily Express suggests where the tenants for all those empties will come from?