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 Post subject: What they said, when they said it. Quotes from VIs.
PostPosted: Tue Jul 17, 2007 12:33 pm 
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Of Systemic Importance
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I think we should have a sticky which logs what the VIs says so we can all look back in a years time and see who had it right. I'd like to start with Mr Declan Cassidy of the Gunne Reports Summer 07 (Published early July 07)

Quote:
All things considered therefore, it makes little sense to hold off
making a purchasing decision. The level of choice and large supply of
properties on the market at the moment gives the buyer huge choice.
The “kid-in-the-sweet-shopâ


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 Post subject:
PostPosted: Tue Jul 17, 2007 12:45 pm 
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Planning Tribunal Attendee

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Dan McLaughlin, chief economist Bank of Ireland:
Quote:
The year 2007 will be another strong one in terms of transactions. We are likely to see something of the order of 85,000 to 90,000 houses built again.

Quote:
we are in for a period of modest house price inflation - something in the order of 3 per cent per annum in 2007 and 2008.


John O'Sullivan, residential director Lisney:
Quote:
Growth levels will be single digit. We are predicting 5 per cent for [2007].


Ray Grehan, property developer Glenkerrin Homes:
Quote:
With the average household now 2.2 people, the anticipated increase in the population will lead to a demand for 45,000 units. This, together with the latent demand in the market, would suggest that the total demand for new units will be in the region of 85,000 units for 2007.


All from The Irish Times: http://www.ireland.com/newspaper/proper ... 53659.html


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 Post subject:
PostPosted: Tue Jul 17, 2007 12:52 pm 
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"Comical" Austin Hughes, Chief Economist IIB Bank (speaking on 12th May 2006):

Quote:
I think it is only slightly provocative to suggest that a more pertinent question is to ask why Irish house prices are rising so slowly.


Quote:
We expect house prices will rise by 10 percent on average in both 2006 and 2007.


From Finfacts: http://www.finfacts.com/irelandbusiness ... 5814.shtml


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 Post subject:
PostPosted: Tue Jul 17, 2007 1:09 pm 
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Dermot Ahern on Q&A 9th July 2007

Quote:
“It looks like we will have one more interest rate rise in 2007, but all the indications are that interest rates will decline in 2008″.


Geoff Tucker March 2007 Economist, Hooke & MacDonald

Quote:
The benign outlook for interest rates in the year ahead, with at most one more rise expected before the ECB will put rates on hold for an extended period

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Borrowers seeking mortgages have had to resort to saving deposits, forcing many to sit by and watch house prices tumble without being able to do anything about it. (Sunday Indo)


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 Post subject:
PostPosted: Tue Jul 17, 2007 1:54 pm 
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Posts: 599
November 2006

Last night IIB economist Austin Hughes told the Irish Independent: "The ECB (European Central Bank) simply doesn't have to rise rates any further." He said the current 3.5pc bank rate (which means at least a 4.5pc rate for borrowers) is sufficient.

"We've been guaranteed another one in December but that will be it, done and dusted," he said.

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 Post subject:
PostPosted: Tue Jul 17, 2007 4:08 pm 
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Posts: 4180
Quote:
As one who has been involved in the Irish property market for 40 years and has experienced every type of market scenario, I am totally convinced that the market is currently in good shape and that anyone buying now will do extremely well in the years ahead. There is no better investment than Irish property at present, and I believethat I will be proved right in this conviction.


Ken McDonald - 25 March 2007


http://www.independent.ie/opinion/analysis/property-markets-no-house-of-cards-123542.html


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 Post subject:
PostPosted: Tue Jul 17, 2007 4:57 pm 
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Location: Over Macho Grande? I don't think I'll ever be over Macho Grande...
My favourite...

"You can find extensive, informed, articulate, balanced and entertaining commentary on the impending collapse of the Irish property market here."

8/11/06: Brendan - Askaboutmoney on thepropertypin.com

http://www.askaboutmoney.com/showpost.php?p=312409&postcount=8055

I'm surprised he hasn't written into the papers asking them to hold off further articles until someone writes a balanced summary... :roll:

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 Post subject:
PostPosted: Tue Jul 17, 2007 5:14 pm 
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God I love the rapid and easy access to the quotes of these muppets via tinternet. Lots of red faces and shattered reputations in years to come.


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 Post subject:
PostPosted: Tue Jul 17, 2007 5:42 pm 
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Single Home Owner

Joined: Feb 28, 2007
Posts: 108
Mr. B Ahern
Friday, April 07th, 2006

The Taoiseach has said he does not see a great problem with the levels of borrowing to buy property.

Mr Ahern said there had been predictions of a huge downturn in 2005.

He added the bad advice given by so many resulted in some people making mistakes when they should have bought property last year.

http://www.rte.ie/news/2006/0407/housing.html


Last edited by Hobky on Tue Jul 17, 2007 8:01 pm, edited 1 time in total.

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 Post subject:
PostPosted: Tue Jul 17, 2007 5:58 pm 
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Too Big to Fail

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Posts: 3002
Location: Oighearland
One of the EA's said in 2006 that the average price for a house in Dublin would reach €750,000 by the year 2015.

(DOW 36,000 remark ;) )

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