That 40% drop - it's already happened

The only problem is some property has way more than 40% to fall. One bed apartments for example.

I’m not really expecting further drops next year, I think the next trigger will be rising interest rates feeding into more drops in 2011. I could be wrong of course but I think NAMA will relieve a lot of the pressure on developers (or at least make them think it has).

Ah thats grand, its good to hear a joke on a thrusday morning, it keeps you cheery for the long day ahead. :unamused:

They seem to forget that Morgan Kelly was reported in the same paper as sayinr that in real terms prices could drop by 80%.

Even the opening sentance of the article states:

which of course implies that the minimum fall should be 40%.

I’m also quite sure that it is average house prices which must fall by at least 40% so to be saying that:

is not true either.

In other news ISABEL MORTON reports

while the OECD

and the Government

That’s €266 per square foot. That’s supposed to represent value in Ireland according to the Irish Property Supplement.

In Germany your average flat is selling at €148 per square foot.

Is there any limit on what you can say is in “the greater Dublin area” without being laughed at?

No. { Sorry was that a serious question }

Hey Jack.


The markets are not really comparable. Although, granted, I would not pay €130k for a 1 bed apartment in Meath.

Ir more likely at least €266 per square foot.

You’re right, a flat in a Germany is desirable.

A flat in Dunboyne is not.

True, theirs is relatively sane.

Whats wrong with the edge today?

Got up way too early. Doesn’t suit me. :frowning:

Very droll. In a techie way :blush:

Transactions and inventory lead prices, and given transactions are still low and inventory is still high, prices have only one direction to go for the forseeable future and that is down.

And any other number of reasons you’d care to mention. Credit, interest rates, wages/disposable income, uncertainty, etc, etc, etc. None of which are in this article.

I might be going crazy, but I’m nearly sure there was also an article a while back talking about expected drops of 30%
and how they had laready happened, so we must be at the bottom.

There might even have been yet another similar article marking the 15% or 20% milestone.

Shall we organize a pool for who can guess the date of the article talking about expected drops of 50% and
quotes from “experts” saying that they have already happened and we must be at the bottom.

I say Feb 2nd 2010


I’m more interested in the first “we must demolish housing so we can build neew ones and get the building industry moving again article”