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Year-old property article

  • 22-07-2008 3:05pm
    #1
    Snickers Man
    Registered Users, Registered Users 2 Posts: 5,301 ✭✭✭


    Just tidying out some old papers and came across the Phoenix Issue of May 4th 2007. In it there is a highly amusing report of the reaction of the Sunday Business Post to the paper's deputy editor's recent program on RTE predicting a property crash.

    The Phoenix article says:
    "The following Sunday....a two-page broadsheet special...published five opinion pieces by various experts, just one of whom agreed with the crash proposition. Unfortunately, the other four (a bank lender, two estate agents and an ESRI economist) mainly indulged in ...negative polemic.

    For example, the programme was described by Robert Ganley of Ganley Walters estate agency as 'the greatest load of rubbish I have ever seen' in an interview with...[the Sunday Business] Post property editor. And Hooke & McDonald estate agency economist Geoff Tucker referred to 'wild and unsubstantiated predictions' from people with 'no reliable track record or who have a reputation for being wrong'.

    Even ERSI economist David Duffy dismissed the crash proposition as something that would only happen if 'we talk ourselves into one'. "

    So now who has the "reputation for being wrong"?

    Or is that just "talking ourselves into" a crash?


Comments

  • #2
    Pen1987
    Closed Accounts Posts: 870 ✭✭✭Pen1987


    ERSI economist David Duffy dismissed the crash proposition as something that would only happen if 'we talk ourselves into one'.


    ...


  • #3
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    Oh yeh, its the fundamentals right :rolleyes:

    It's about time our journos were not influenced by property related ad revenue for their journal!


  • #4
    fly_agaric
    Registered Users, Registered Users 2 Posts: 5,103 ✭✭✭fly_agaric


    Snickers Man wrote: »
    Unfortunately, the other four (a bank lender, two estate agents...

    An awful lot of that guff in the media when it comes to economic issues in general (inviting "talking heads" to comment on areas where they have a completely blatant vested interest). I suppose they are asked to comment on these things because they are the "experts" but what is the point if half the time they are really just "shilling" rather than offering genuine expertise? (end whine)


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