They just collapsed the property market but you just don’t know it yet

Volume of loans down 90% yoy
Borrowing costs now 7% up from 3% a year ago

“Property funds are dumping assets worth more than £1bn on to the London market as pressure mounts to meet redemption requests, with estate agents warning that they will have to accept big discounts in order to sell. UK real estate funds, including vehicles managed by Schroders, CBRE Investment Management, Legal & General Investment Management, M&G and Abrdn, are marketing at least 18 commercial assets collectively priced at about £1bn in the capital, according to property agents. Fund managers insisted that the sales were being triggered as they rebalanced portfolios on behalf of clients, but property agents said the level of activity was far higher than normal.”

Marian’s back (must look back at the “what/when they said…”)

she said the chronically low levels of supply would keep a floor on prices.

Ms Finnegan predicted price growth would slow to 6 to 8 per cent by the end of this year, down from the current rate of 12 per cent and average about 3 to 4 per cent next year.

Soft landing again.

https://www.bloomberg.com/news/articles/2022-11-20/in-dublin-it-s-elon-musk-versus-the-housing-market?srnd=premium-europe&leadSource=uverify%20wall

You can read that here archive.ph

Analysis by commission officials released on Tuesday warned of economic risks from potential housing price corrections in the EU, finding that houses were more than 10 per cent overvalued in over half of EU member states, and more than 20 per cent overvalued in nine countries.

Ireland is not among these however, according to the commission’s Alert Mechanism Report. The metrics it used to evaluate Ireland’s housing market “do not show signs of potential overvaluation”, the report read, despite Ireland having one of the highest price-to-income ratios in the EU.

What we see in Ireland is there is very fast demographic growth.

It’s part of the reason the scum in East Wall are protesting…

Scum? Really??