Housing Bubble Bursting

SkepticOne

ionapaul wrote:

What I would love to read is people's thoughts on where the market is headed and what timeframe they can see*, just as an exercise to gauge sentiment. Perhaps the place to be asking these questions is not in this thread, where the bears rule, but in AH or somewhere?

Long decline increasing in pace towards then end. Government unwisely introducing measures to slow the decline but increasing the length and damage of the slump. Reasoning as follows:

On the way up no argument was good enough for the bulls that houses were overvalued; the simple fact that prices had been rising for so long was sufficient reason to expect them to continue to rise and thaat therefore they were a good investment.

Since considerations of fundamental value do not enter into their decision making, they will need to experience a long period of decline in the prices of their assets before they realise that they have made a mistake and get out. It might take two or three years of gradual declines for this realisation to occur but when it does occur there will be a mass exodus and and prices will decline even faster.

I think Bertie will try to drag out the decline as long as possible with measures to prop up the market. Overall this will increase the damage to the economy and public finances. But by the time the **** really hits the fan, Bertie will have handed over to Biffo who will proceed to lose the election and the opposition parties can then carry the can.

daveirl

This post has been deleted.

ronbyrne2005

daveirl wrote:

This post has been deleted.

Was just gonna ask whats the story with it. Did the guys not pay the hosting bill?

Glenbhoy

daveirl wrote:

This post has been deleted.

The axis of evil being the banks, developers, estate agents and govt. launched a stealth attack??

whizzbang

There are price drops going unreported!

This is serious people!

Clearly it was all just a scam to sell me a Murry O Mug, now I've got one its all over.

A Random Walk

We were discussing this too. I know that OW's host was giving him hassle about the load from the site, I hope they haven't pulled the plug. If OW is out there somewhere perhaps he could let us know

miju

it seems its actually grown so popular that its a bandwidth issue more so than anything. though looking at recent stats for the site the hosts might be ****e if they're limitig bandwidth on their current amount of hits (which is VERY high BTW)

"Maximum Daily connection limit reached"

maybe some VI is running a DOS attack on it, lollers

SkepticOne

It will be reopened for frequent users once someone submits a balanced overview of the housing market.

A Random Walk

SkepticOne wrote:

It will be reopened for frequent users once someone submits a balanced overview of the housing market.

hah

"Property prices are falling"
"I'm sorry, but you will find they are rising"
"No they are not"
"Yes they are"
"I have acres of statistics to show they are falling!"
"In the interest of balance I am saying they are rising"
"That's not balance, that's just stupidity"
"You are banned and the topic is now closed"

miju

Rofl

gurramok

Hope the admins haven't topped themselves as per bertie's instruction

On the topic in hand, IIB had a wonderful press release this morning defying the laws of economics http://www.rte.ie/business/2007/0910/IIB.html

Apparently they say prices will fall 2.5% this yr despite it falling already 3% according to an outdated esri index!

We are at top of rate cycle says IIB, they must have inside ECB knowledge

Prices will rise again next year, so put your bets down on this crystal ball advice!

More disturbingly the following piece looks like a hint for govt/taxpayers money to keep the gravy train going for the bankers..

'Mr Hughes said that the government needs to be careful to avoid an unnecessarily hard landing for the housing market'

Basically, Comical Austin wants the govt which is projected to be over 1bn out of budget by xmas to heavily subsidise every mortgage and stamp duty transaction to keep the bubble afloat and of course his bank afloat.

Firetrap

Comical Austin must be fearful for his job.

Supercell

This sucks that the pin is down.
OW knows a lot about property but less about web hosting it seems, it should never have come to this
Why didn't he mention the problems with his host before being pulled? (was it sudden?), there's always ways around hosting problems that are not necessarily expensive.

Max load his site had ever was a couple of hundred users - not downloading anything but text posts and images linked to other sites...that shouldn't necessarily be be expensive to host at all with a bit of research.

I hope he got the board database backed up before the site was pulled.
Is someone technically minded helping him with the hosting?

Firetrap

The cost of hosting sites like The Property Pin can be quite high. I think it's to do with all the scripts 'n stuff that are involved in running a forum. My cousin runs one that's quite popular and he has google ads on it which more or less funds the running costs. I think it costs about €100 a month to run.

Supercell

There's no way in hell that TPP should cost anywhere near that to host.

10-15 max euro a month should yield fairly solid hosting for the traffic and content they have.

Aishling

I really hope that this isn't the end of TPP. Im addicted to it:o . OW if you are reading this I would definitely pay a few euros to keep you guys going. Hope things work out.:D

iguana

Aishling wrote:

I really hope that this isn't the end of TPP. Im addicted to it:o . OW if you are reading this I would definitely pay a few euros to keep you guys going. Hope things work out.:D

Ditto.

Victor

If someone is in contact with the property pin people, have them contact me.

miju

ill have my people contact your people victor

robd

Just to let you all know thepropertypin.com is back up now. It appears to be hosted on hosting365.com now. Openwindow seems to have gotten help from user Andynui who he refers to as GOD.

davej

In other news it looks like the property bubble has been saved

ECB will slash, not raise interest rates claims economist

davej

Open Window

Thanks for all the words of support. Despite comments I do know a little bit about hosting but TBH the host pulled as I think a egnineer got freaked out by the memory usage. I go tno warning but had been in dialogue on and off over the last 3 days and I had been making changes to the setup and we made some good inroads but the engineer saw the memory usage go from 400MB to 800MB on a shared hosting package that was it. Lock Down.

So yea we are back, the domain might not be pointing for all, I know its not working for me but I can link direct in, if others have that problem it should sort it self out as the poiinting propagates itself, at least I htink so.

Some features may not work as usual but the majority of the BB seems to be fine.

Thanks for all the good will and offers of assistance financial and otherwise.

We now have some breathing space thanks to Andynui to make plans for a more permanent home for the pin.

BTW if anyone is sending me email my email is now down since today so PM here or on the www.thepropertypin.com

Supercell

Great to hear its up and running again OW!,

DNS not resolved here yet, suppose that'll be another couple of days.
Anyone know what's the ip address? so I can just add it to my hosts file - can't bare to not have my property fix for a couple of days more!
[edit] Found the ip, for anyone interested , just add 82.195.149.26 www.thepropertypin.com to your windows hosts file and the url will work.[/edit]

Supercell

davej wrote:

In other news it looks like the property bubble has been saved

ECB will slash, not raise interest rates claims economist

davej

I see comical Austin's at it again, a rate rise must be imminent, pretty much every time he makes a forecast like this, for the last year, the ecb has gone in the exact opposite direction!

The_Conductor

Longfield wrote:

I see comical Austin's at it again, a rate rise must be imminent, pretty much every time he makes a forecast like this, for the last year, the ecb has gone in the exact opposite direction!

Perhaps he should have read the rest of what the ECB said in their statement. Its even reported in the Indo in the selfsame section as Herr Hughes report at:

http://www.independent.ie/business/european/ecb-says-rate-rise-is-only-postponed-1074096.html

Entitled "ECB says rate rise is only postponed........."!!!

I particularly liked the statement that when investors take risks, they are their risks, and they should not expect central banks to bail them out. Perhaps this is a little too close to the bone for Mr. Hughes? Ditto- investors should not expect the government to bail them out.......

Pa ElGrande

Longfield wrote:

Great to hear its up and running again OW!,

DNS not resolved here yet, suppose that'll be another couple of days.
Anyone know what's the ip address? so I can just add it to my hosts file - can't bare to not have my property fix for a couple of days more!
[edit] Found the ip, for anyone interested , just add 82.195.149.26 www.thepropertypin.com to your windows hosts file and the url will work.[/edit]

Instead of editing hosts files, uou can also use the DNS servers from http://www.opendns.com/ (much more reliable than certain Irish ISP's DNS)

KingKenny7

robd wrote:

Just to let you all know thepropertypin.com is back up now. It appears to be hosted on hosting365.com now. Openwindow seems to have gotten help from user Andynui who he refers to as GOD.

Not them, the site will never stay up

Colonel Sanders

"a fall in interest rates could be the best chance of avoiding financial ruin for thousands of consumers who have over-borrowed in the past few years, IIB Homeloans economist Austin Hughes said yesterday."

In fairness those people have only themselves to blame.

bugler

PP is down again :-/

ntlbell

it's fine for me, it's ever been so quick actually