Warning that house prices may fall by 80%

Irish Times, Jan 13th
irishtimes.com/newspaper/fin … 20759.html

Woohoo!!!

I think maybe Morgan needs a sit down. His predictions are getting a bit sensationalist.

I want a Morgan Kelly t-shirt

Maybe, but it’s a welcome counter to the VI sensationalist crap of the past 10 years.

While not neccessarily accepting that Morgan is being sensationalist, maybe a bit of extremism on the bear side will focus attention towards the mean, and more realistic bears will be given more credence.

I agree.

I dont think he is that far off, 70% drop is possible…

He is probably speculating that the Government wont get its ship in order…

So far he is right on the money,

but as most speculators know, the minute you think you are right you are wrong!

Some houses will drop 80%

Last paragraph is spot on.

Maybe the rest is close to the mark as well.

Some houses will just drop 8)

I’d say he’s right. Not all house prices will hit the 80% mark but at least some will. We’ve already recorded price drops greater than 60% in the higher end house prices on this site already.

Even the dogs on the street know the shit has hit the fan and is currently being dispersed. You can talk it up however you want but this country is in a bad place right now.

I think he’s right. :open_mouth:

80% is becoming increasingly more and more likely IMO.

With the net emmigration about to become the norm… and the imminent introduction of property taxes… it really will be the empties stoopid

The clearing cost for property may soon become what it costs to demolish instead of what it has cost to build.

well hes entitled to lay into the gobshites who followed the party line for so long.

he is irelands peter schiff

True, but I’m just concerned that he will lose credibility, that’s all.

He may be right though.

The scare factor must be about to kick in.

There is nothing anyone can do to prevent a total collapse of the economy as we have exhaust all our avenues of hope.

Pin ahead of the curve again ? Remember this

I have to admit I like his article especially the way he lays into the ones who caused this almighty mess. Unhappy days ahead

That is the scariest prospect. Particularly when you think about how far there still is to go before this happens. And the likelihood that economic activity will remain depressed until prices have come near to bottom.

I rem,ember listening to Alan Aherne on Hook on Newstalk in September (I think) and he said that we would soon see developments being demolished.

Christ tonight, imagine your house devaluing by up to 80%

He just called us “amateurs”!!! :imp:

Listen here Kelly ya bollix… :nin