Property prices.......

[BruceAlmighty]

ok things dont look good.but we need to be positive ..ireland needs it..im positive we are fucked...will that help?

It couldn't hurt...

[anon361]

I blame the financial advisers that popped up on every street corner just as much as the banks and ourselves, how many of us know someone that went to one of them and they filled in the mortgage application form with fairytales for them and as for Salary certs required with the application, a €20 rubber stamp bought in any office supply shop with the name of the company you work for on it got around that.. One of my staff came to me looking for blank P60 forms, when I asked her what for she said her advisor wanted them, her salary was too low in the prvious year so he was going to fill in the P60 so she would meet the criteria..

[luther]

I blame the financial advisers that popped up on every street corner just as much as the banks and ourselves

100% correct. I've said it time and time and time again.........

I would lay the blame for much of this countries financial woes directally and squarely at that sleepy fuckers door........

I'll leave it there otherwise I could rant on about that useless gobshite all night............

[oneeyedreilly]

I'm afraid the worst is yet to come, when all those people who are behind with their mortages, are out of whatever moratoriums the regulator has in place, there will thousands of re-possesions and forced sales and then watch prices drop.

[scotus]

I blame the financial advisers that popped up on every street corner just as much as the banks and ourselves

I don't think ANYONE connected with the madness looks good, but I would foremost lay the blame at the Regulators and government policy for this mess.

We pay them to prevent this kind of thing happening. And the arguments that they trot out about not knowing are just plain wrong.

[Liberty Love]

I blame the financial advisers that popped up on every street corner just as much as the banks and ourselves, how many of us know someone that went to one of them and they filled in the mortgage application form with fairytales for them and as for Salary certs required with the application, a €20 rubber stamp bought in any office supply shop with the name of the company you work for on it got around that.. One of my staff came to me looking for blank P60 forms, when I asked her what for she said her advisor wanted them, her salary was too low in the prvious year so he was going to fill in the P60 so she would meet the criteria..

I think any of the mortages obtained with false documents that lending company's helped with should be null and void... When Iwent for mortgage. I was sent to accountant who made it possile for me to purchase.. The mortagage company, accountant and I knew the papers were complete bullshite..
They are going to knock houses down to stabalize market. Right now too many houses and not enough buyers.... The whole thing is disgusting really

[thehighwayman]

I think it will be while yet before prices begin to rise again. Property has come down an awful lot the last few years. But now with so much unemployment and people heavily in debt these prices are still too high for most people. If property isn't getting sold then I'm afraid prices have to come down further.

The financial regulator is a joke. On every financial institutes advertisement it said it was regulated by the financial services regulatory authority. There was no regulation and their still saying the same bullhit on ads.

[Doozer]

I think it will be while yet before prices begin to rise again. Property has come down an awful lot the last few years. But now with so much unemployment and people heavily in debt these prices are still too high for most people. If property isn't getting sold then I'm afraid prices have to come down further.

The financial regulator is a joke. On every financial institutes advertisement it said it was regulated by the financial services regulatory authority. There was no regulation and their still saying the same bullhit on ads.

Its true they were practically giving mortgages away. 120% mortages etc knowing the customers couldnt make the payments

[Violette]

I think 5 years is an optimistic forecast, you could be looking at maybe 10-15 years before there is any kind of discernible turn around. Using Japan for comparison purposes. And considering Ireland have next to nothing in natural resources, little infrastructure, and ruling junta to rival anything in a third world country, wellllll it could even be longer. But look on the bright side, no wait, you can't even do that the sun rarely shines.
Eire est puteus quod verum perfututum.

[carlos marvado]

I think we're years away from an upturn in the property market.........put together a series of tough budgets with expenditure cuts and increases in or new forms of taxation, existing oversupply, redundancies, emigration, pay cuts, little or no bank lending, increasing ECB rates somewhere down the line, who knows what shocks to emerge in the future and a general fear of taking any financial risks and only a masochist would venture into bricks and mortar.

I like to take a biblical perspective on such matters.......which I am sure Brother Luther would appreciate. You will all recall the dream that Joseph had of seven fat cows followed by seven lean cows. Well how long did the Celtic Tiger purr for? That's how long it took us to get into the shit and with the best will in the world, it will take us at least that long to dig ourselves back out.
Violette used the example of Japan. Other than the fact they are the third largest economy in the world and we are a minnow, both countries suffer from a lack of natural resources and both are dependent to a high degree on export markets......so the comparison may be quite valid.

Factor in such items as wholesale disruption in the public service, civil unrest, political instability, defaulting on our sovereign debt repayments, a Greek style bailout by the EU, becoming an ECB and/or IMF dependency and emigration starts to look very attractive. And to rub salt into the wounds, the weather sucks. We need to think outside the box to get ourselves out of this pickle. The Queen will be here next year........we may never get a better opportunity to attract a potential buyer.