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Lessons to be learned from the housing bubble

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    #32
    Jaysoose
    Closed Accounts Posts: 3,212 ✭✭✭Jaysoose


    Some things i have learned since the bubble ended:

    1. Hindsight is 20/20
    2. Everybody is a property expert
    3. Everybody is an economics expert
    4. The amount of smug topics being created with a 'Told you so' Undertone on boards is sickening.


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    #33
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    On point 4.

    All it takes is a search of a posters older posts pre-bubble bursting to distinguish from the ones who were right and the ones who are on the bandwagon.


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    #34
    AARRRGH
    Closed Accounts Posts: 12,382 ✭✭✭✭AARRRGH


    whizzbang wrote: »
    I've been thinking about this a bit lately and I think it is also fair to say that we have lost the ability to judge quality. People just look at the price and if it is expensive then it is good. If one brand is more expensive than another brand then it is "better". I think this is why people think Lidl and Aldi stuff is of inferior quality. Even though in blind tests they quite often come out in the top 25%.

    I guess it is easier to just buy the expensive stuff and assume it is better than to judge things for yourself.

    There was an example of this on boards recently. I can't remember the exact details but it went something like this -

    Someone was in Tesco and noticed the Tesco Premium Quality Cola was €7.50 per two litre bottle. They asked a staff member is this correct and they said it was.

    A few people reading the thread said they must try it as it must be good...


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    #35
    AARRRGH
    Closed Accounts Posts: 12,382 ✭✭✭✭AARRRGH


    Caoimhín wrote: »
    I think the Irish media have a lot to answer for. Some of our once trusted publications were infested with vested interests and turned into nothing more than propaganda publications.
    This extended to the state broadcaster and the so called "paper of record" the Irish Times (indeed the Times' property supplement was amongst the worst offenders). I am still bemused how the likes of Tom Parlon of the Construction Industry Federation is still allowed such unfettered access to the broadcasters.

    I know, it's quite amazing.

    It really reinforces the concept that the news is just a branch of the entertainment industry...


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