“Finance minister Brian Lenihan claimed yesterday that the residential property market will stabilise following the transfer of toxic debt from the banks to Nama - and predicted that people will now begin to buy houses again”.
So that all worked out then… phew, for a few days there last week I thought we might be in real trouble
Yeah, except we’re moving to a point where property ownership is becoming the love that dare not speak its name. Everyone wants to do it, to have a piece of it, but no one is going to own up to it… invest in closets quick!
Astonishing stuff. NAMA, according to Mr. Lemmy and the DoFfers has no relationship to the underlying assets, it is all about the loans which must be repaid. So is Mr. Lemmy now admitting that the whole thing was a developer bailout and they are only going to have to pay back 53% of their loans?
Sounds like Lenny’s feeling better, spinning garbage as well as he ever has - when in the whole of his health -but further helps to dispel the ludicrous idea that because he is capable of constructing a couple of grammatically correct sentences- he has trace elements of honesty and integrity.
Hope the man recovers from illness but his gene pool is not something he can discard.
I was looking at a thread from May 2008 where Mr. Lenihan (or maybe Mr. Cowen) was talking about a pick up in the economy in the second half of the year. Can’t find it now. I’m sure there is one from last year aswell. As we have said many times before on the 'pin, the recovery is always six months away… fado, fado…
I actually wanted a phrase that I don’t know - a fado, fado in Irish that applied to the future… a short-form of the last lines of Gatsby:
“Gatsby believed in the green light, the orgastic future that year by year recedes before us. It eluded us then, but that’s no matter – tomorrow we will run faster, stretch out our arms farther. … And one fine morning ---- So we beat on, boats against the current, borne back ceaselessly into the past.”
So we have finally reached the bottom. Things can only get better so. Strange though cause things have never looked worse. Unemployment rising, industrial relations strife looming, more pay cuts on the way for public and private sectors (direct or through higher taxes) and intrest rates on the up.
BUY BUY BUY and get one or two in the likes of Bulgaria as well.
Lenihan is once again telling us its all ok and that things will be sound from here on in. Look to your past Brian and how you got everything completely arseways up to this.
You are a JOKE and its high time you and the rest of the FF bandits crawled back to the swamp you came from. Parasites the lot of ye. In fact you can bring the entire Dail with you cause I would not trust one of the entire house to organize a nun shoot in a nunnery.
Class. What’s worse is today I saw a house I’m going to make an enquiry on.
It’s half a mile from my folks which puts it at a premium for me (I asked herself, she loves my folks and we’ve agreed that half a mile isn’t too close to call in every other night so its fine). It leaves me feeling a bit funny in that it ticks a lot of boxes, even cost. I’m not going to hijack the thread but it was strange being at a family bash tonight, I told a cousin I get on well with that we are going to take a look and he said " now is the best time to buy". I was ready to unstring my list of arguments, yet I had to keep stum.
I’m my view houses are going to fall for another 18 months but this has room for herselves’ chickens and is on a bus route deleting the second car argument. We’ll see what happens. It’s in a good area so I told herself not too get excited, if we don’t get it for asking-10% then we are going to stay renting, there is going to be no bidder war.
In saying house prices have reached the bottom, Mr. Lenihan must also be implying that our period of wage deflation is at an end too.
So presumably he is happy with our level of competitiveness now, since wages bottoming out must imply a bottoming out of general deflation too. And he must further be expressing confidence that we are also at the end of the credit crunch and that banks have the means and motive to lend for property. And that unemployment is bottoming out. And that rising interest rates won’t alter this picture in the coming months.
oh sweet divine jazus…is he in the pay of an estate agent?
And the Daft Report is out next week…that presumably will show a decline as well.
…deep breath…THEY ARE BUYING CARS YOU GOMALOGUE BECAUSE THEY ARE FUCKING WELL SUBSIDISED VIA THE SCRAPPAGE SCHEME…Just wait till the scheme runs out. The SS - ireland subsidising japan, korea, germany and italy for their exports. The maddest scheme of all…