The IMF came for a chat, and this is what they found

From the IMF, 14th July 2010:



Blue Horseshoe

RTE news mentioned that the IMF also advised Nama to get on with selling properties to “normalise the market”. I presume this was part of the same report. Could this be the start of the major firesales? … z0tfiAQ9O2

Read more: … z0th7cRqj2

I was speaking to one of the big liquidation specialists a few weeks ago, the chap said they believe that NAMA will start to release LARGE volumes of apartments/houses in Q1 or Q2 next year. I asked would this not collapse whatever remains of the market and he effectively said probably but what will be will be

For me, the key bit of the homeowner “bailout” recommedation is this bit:

I believe this is the consensus on the 'pin (such as it is) that the insolvency regime is onerous, but that with reform it is the appropriate mechanism for over-extended borrowers. An equitable assessment of liabilities and needs has to take place. I’m not sure whether I am oddly comforted or beetle-browed suspicious that the IMF agrees…