Wobbly housing sector will rock entire economy - Sindo

[verbatim]

From Marc Coleman

independent.ie/opinion/analy … 61974.html

Not only is it the government’s fault, but the doom merchants too.

If their original causes weren’t caused directly by the doom merchants and Government, their effects have certainly been exacerbated by them. Yes, the property market – in Ireland and globally – needed sense and moderation talked into it. But it did not need to be bludgeoned by a double whammy of apolocalyptic predictions and crippling taxation. Those responsible for that bludgeoning now need to do what they can to ensure things don’t get any worse, if only for the sake of preserving their credibility.

[A_Random_Walk]

Marc Coleman’s new book ‘The Best is Yet to Come’ will be published by Blackhall in November

Who’s going to buy a book like that if we’re in the middle of a housing crisis and all indicators are being revised downwards? I’m guessing he’s desperately hoping to keep the good news flow going until November.

I’ve had enough of listening to these ostriches calling people “doom-mongers” because we won’t buy into the property scam, we should be robust in answering them.

[2Pack]

What does fat Brendan have to say about it ??

[Duplex]

I don’t think its the ‘doomongers’ who are causing the current credit crunch. In fact its the ‘boommongers’ who sold people in the US deadly mortgage products and overpriced real estate who are central in this tale of greed, folly and doom.

[HouseBuyer]

I’m sorry, but where did this Coleman worm crawl out from and what gives him the right to foist his opinions upon us?

[HouseBuyer]

Here’s a choice quote from that half-wit himself in the 2006 Quarter 2 daft report. As you all remember, the end of Q2 2006 marked the beginning of the decline in the Irish housing market.

@Marc Coleman

Is a downturn in the market going to happen?

Despite some overvaluation in the market, this is unlikely. Two fundamental events justify the reacceleration in prices since this time last year. As last year drew to a close, the expected release of SSIA moneys, which began this May, became bankable as deposit leverage. The second more significant event was that at the turn of the year banks became much more liberal with mortgage lending policies. Old multiples of gross income went out. New, and more liberal, measures of net income came in. More important still was the lengthening of mortgage repayment periods - with 40 year mortgages now not uncommon.

Oh dear.

[Thing_Fish]

@HouseBuyer

I’m sorry, but where did this Coleman worm crawl out from and what gives him the right to foist his opinions upon us?

the guy has credentials, he was an ECB ecnomist

Criticising the govt & the doomsayers for the housing bust is way out of line. The govt made it easier for investors to buy up 5 houses each in the housing market. He should start with the banks, who were happy to lend vast sums of money to buy already-overvalued houses. I’d like to hear him criticise the investors who have pulled out and are keeping their money out of the housing game until further notice.

The only thing worse than being an indentured servant with equity is an indentured servant with negative equity.

Since 1999 the interest rates were determined by the ECB, maybe marc himself is responsible for the housing boom and bust.

[childofman]

Coleman is soon to be the Economics Editor (I think) of Newstalk. Someone was talking to him the other day and they mentioned it at the end of the interview.

[verbatim]

@childofman

Coleman is soon to be the Economics Editor (I think) of Newstalk. Someone was talking to him the other day and they mentioned it at the end of the interview.

Anyone who believes that only one side of an argument should be heard should not be editor of anything.

If he was just one of those hired mouths it wouldn’t be so bad.

[Thing_Fish]

@childofman

Coleman is soon to be the Economics Editor (I think) of Newstalk. Someone was talking to him the other day and they mentioned it at the end of the interview.

Denis o’brien needs to set the hard-right economic agenda.

[Open_Window]

The last thing we need is more media mouth bandwidth for the spinmaste !

[southofdub]

Not to worry we are all

of

[geckko]

@Thing Fish

@HouseBuyer

I’m sorry, but where did this Coleman worm crawl out from and what gives him the right to foist his opinions upon us?

the guy has credentials, he was an ECB ecnomist

A central bank functionary? He was/is a nobody.

Although you will have to take my word for it, I have the qualifications and experience directly in this field to know that Marc Coleman is one poor economist.

[Thing_Fish]

@geckko

@Thing Fish

@HouseBuyer

I’m sorry, but where did this Coleman worm crawl out from and what gives him the right to foist his opinions upon us?

the guy has credentials, he was an ECB ecnomist

A central bank functionary? He was/is a nobody.

Although you will have to take my word for it, I have the qualifications and experience directly in this field to know that Marc Coleman is one poor economist.

I didn’t say that he was a good economist

[Arthur_Daley]

@Thing Fish

@childofman

Coleman is soon to be the Economics Editor (I think) of Newstalk. Someone was talking to him the other day and they mentioned it at the end of the interview.

Denis o’brien needs to set the hard-right economic agenda.

As an avid Newstalk listener I found this carry on strange. I’m not sure where Tom Lyons their business editor cleared off to but they’ve had a refreshing objectivity to their morning show over the last 10 months. I should know I texted them a lot around the jist of the old aam thread and they responded positively to it. Anyway Mr. Coleman lurks this forum himself I’m sure.

Anyhow with uncertainty so global why argue the myriad shortcomings of the Irish media? This country and anything that happens in it is totally irrelevant to the current turmoil in credit markets worldwide.