[Article in Metro] house prices to drop 20%

homeOwner

Did anyone else read this - seems like yet another economist telling us that prices are going to fall.....havent we been hearing this for the past 5 years?

MorningStar

Same person making this claim from the economist. It isn't a new story other than the fact the person was in Ireland and said it.
It is a little biased because it is a general belief the whole world is in the middle of a housing boom and is over priced by 20%+. It is not really specific to Ireland so I would doubt the accuracy.

ifah

also the context that this economist was speaking should be pointed out and highlighted - it was during a debate hosted by Simply Mortgages and obviously someone has to argue for and someone against the motion, which was about Irish Property Prices.

Bluehair

Here we go again....

(fingers in ears) LA LA LA I'm not listening to you... House prices can NEVER drop... LA LA LA

:rolleyes:

I couldn't be arsed getting into it again since as soon as anyone puts a coherant arguement on here about potential problems in the housing market it finds little else but personal attacks. Come back and quote me... say Summer 2007....

MorningStar

Bluehair wrote:

Here we go again....

(fingers in ears) LA LA LA I'm not listening to you... House prices can NEVER drop... LA LA LA

:rolleyes:

I

Well it has already been covered and the point is it is the same source saying the same thing so not new

homeOwner

Bluehair wrote:

Here we go again....

I couldn't be arsed getting into it again since as soon as anyone puts a coherant arguement on here about potential problems in the housing market it finds little else but personal attacks. Come back and quote me... say Summer 2007....

No one is saying that there isnt potential problems etc..etc..etc..

I am merely pointing out that this "drop in house prices" lark has been repeated ad-nausaum by economists since at least 2000 and it hasnt happened yet. But I suppose if you keep on saying something year after year, its bound to be true eventually over 10 years and then you can go back and say "I told you so"

Articles like the the one in the metro are pointless, and are not backed up by the actual situation out there at the moment. Its all speculation. If economists were any use at predicting trends in markets (any markets), either crashes or peaks, they would all be millionaires and would be sitting on a beach somewhere or doing whatever it i millionaires do, instead of churing out these useless articles every couple of months.

Bottom line - no one knows what is going to happen. and no one can predict what is going to happen. All the rest is just opinion and guesswork.

Dilly1

Alot of people living in denial, The house market now has become a bit like
a pyramid scheme, everyone knows that someone is going to get stung, but they all hope that its not going to be them. Houses are overpriced and everyone knows it. But unless the developers panic and start offloading all their property, there still isnt a surplus of houses, so its hard to know which way it will swing. It will crash, it just may not happen for another few years.
I was in London in 1991 when they same thing happened, everyone was making huge lumps of cash from property, and everyopne owned loads of property, then suddenly, in the space of 3 months the market crashed, and people who were millionaires (on paper) ended up with nothing, ZERO .. ZILCH. its all a game, some win some lose. I dont intend to buy anymore property in Ireland for now. I hear there are a few bargains in the UK at the moment.

HelterSkelter

Ohhh look, there's a pig flying!

JimmySmith

i'm kind of tired listening to both sides of the argument at this stage.
When will people learn that economists for or against a price drop are full of it.

Noone knows - end of story.

MorningStar

JimmySmith wrote:

i'm kind of tired listening to both sides of the argument at this stage.
When will people learn that economists for or against a price drop are full of it.

Noone knows - end of story.

I think the point is that this is not new information but repeated information from the same source that we already discussed.

joejoem

1) It was written in the Metro the "I just finished a four year jounalisim degree and have to do something with it" paper

2) That article has been published hundreds of times, all they do is change the wording.

3) Its attention grabbing propeganda, like the suns headlines "Lesbian slut whore in Lillies Bordello" its just there to grab your attention