I have just listened in disbelief to a “news report” on RTE 9 o’clock news where it was baldly stated that houses are more affordable now than at anytime in the past 25 years, all backed up with a completely impartial (yeah, right) interview with someone from the EBS!!
With even the national broadcaster now talking up the market, what hope in hell does the man on the street have of making balanced decisions as to whether or not now is the right time to buy??
Did they happen to mention the report on the 300,000 -plus empties?
Yes, that report was the supposed topic of the news item, but it quickly moved on to how affordable housing now is in real terms, ie, apparently only 13.4% of a working couple’s salary now goes on their mortgage, as opposed to 26% in 2006, blah blah.
Personally, I’d like to see exactly what kind of palaces all these working couples are living in, and for how long exactly they’re going to be paying 13.4% of their income to live in them.
?
Yep and a brief interview with Prof Rob, fairly scary stuff Leitrim has 30% empties, I think they then morphed into Never a better time to buy
That was one of the most impressive pieces of journalism ever. My head is still spinning how they could possibly make it feel like this is all great and Never A Better Time To Buy!
Swiftly followed by Prime Time where I thought Ms. O’Callaghan nailed ‘beng-beng’ O’Dea to the wall by his moustache. I think we may know who one of the losing Davy investors is… I’ve never seen her quite so robust or directed with a government minister.
By the way, by his squeak and his mannerisms, I’ve finally figured out that it is Mr. Mansergh who has his hend up beng-beng’s erse.
Theres been a plethora… of good news headlines in recent days, weeks… Im getting suspicious
The PR company gig must be a fairly small world, with some PR firms doing spin for the Government probably have PR accounts with some of the banks.
Id say if one of hte largert firms said, lets put out some good newsheadlines with all our major players spread over 10 days, maybe even roped in some of their colleagues from competing agencys and said lets have one last spin on the spinning wheel… you would get somethign like what we have seen in recent weeks
probably a plan hatched at the PR instiute of ireland xmas bash.
yep and the benchmark Permo/ESRI monthly index (whose figures are suspected to be dire) has been held back for almost a month and may well have dissappeared off the face of the earth.
Affordability is the buzz for 2010
“Property in 2010: Affordable to those still living in 2006”
jaysus the mortgage brokers will love this, not only can they well afford all the houses they are personaly buying themselves cos its such a golden oppurtunity (25 years , right) but they will have loads of new business
I agree,there is a renewed,concerted effort to talk things up again.It’s tiresome and ultimately unhelpful.
Sadly it will lure a few unfortunates in,providing someone will lend them the money.
The bald facts are, rising unemployment,inevitable rise in interest rates,lowering of wages and rising taxes.
This country and more particulalrly the parasites that run it, will not recover until realism features in discussion about the economy,such as it is.Also,as long as the current government and the same people who over saw this disastrous bubble are still in place then there is a tacit admission that the country has not moved on.
We cannot afford to indulge the waffle that passes for analysis anymore. Dan,Austin etc. need to be told to sling their hooks.
I don’t have a TV anymore so at least I’m not paying a licence fee. It’s cold comfort.
How many of ye watched it folks? They stated that affordability is better but they also clearly mentioned that they expect prices to fall another 10% this year and that they don’t expect them to tise for a long time due to the 300K empties. I thought it was quite balanced. If people want to buy a house and don’t understand interest rates and affordability at this stage let them off, there is no hope for them. I felt it was the first time that the media dispelled the myth, “You have to buy now before they shoot back up”.
I thought it was reasonably bearish too. Ann Doyle had a fair sour look on her puss before going to the 300k empties interview. The loolah doing the “never been a better time” had to concede that a 10 % fall this year looked likely. Didn’t say nuthin’ about next year…
The points about supply in Dublin/urban were well made, I think. It is not a question of shortages pushing up the price, but where demand for construction employment is likely to recover first. Parts of the Midlands and the West are basically write-offs for the next, eh, forever if you are in a new-home dependent trade…
affordability is up , oh and theres 300k empties.
Well son, your fine the left leg is grand and the right leg is perfect, full mobility, you could run a marathon on those pins…but doc i came in to see you cos someone lopped my head off…
did someone mention Anne Doyle…the only thing bearish about Anne Doyle is that rug in her pad … did anyone see the spread on her place in VIP magazine recently, I shit you not it was one of the most impressive piles Ive seen in a long time.
gives me a warm fuzzzy feeling thinking of my TV license fee, to see my regular news reader straddled across a high quality chippendale reproduction in Christian laboutains
I have a theory that the concerted effort to puff up the market and the hopes of the FF core is so that they have something to offset the impact of the introduction of property taxes. They’ll get hopes up, then say, that “dem furriers are making us do it, but it will get the bowels of the market moving again”. Verbal diarrhea.
I see an opportunity for a financial ‘Darwin Awards’ site here; and the award for biggest financial fuck-up of the year goes to…
and the Candidate U Named Triumphant award goes to…
If you think talking up the economy is bad now, wait til you see what happens when the Q4 GDP figures come from the US…
bang head of wall…
The same with Metro Herald - they had it on the cover and on page 4. With no mention that um, OK, interest rates are bound to go up, wiping away this “affordability”. Oh, and they mentioned the 300K empties. In one line.
P.
Gerry Ryan was raving about it this morning, never in the history of this State has there ever been a better time to buy. He also told us that an enquiry into the banking crisis would delay a recovery and this is not what he wants for his children (or what any of us should want for our children) who will all be looking to get jobs and buy houses in the next few years.
Ah fer feck’s sake quit yer bellyachin’ and get with the programme…it’s every man for himself now and divil take the hindmost, or didn’t you know?