Brendan O' Connor trying to re-inflate the property market (again)

ILikeBananas

He starts off the piece by acknowledging (in his own way) that he has 'history' with predictions in this area. He then goes on to give a completely illogical argument for why the property market is about to take off again, based on nothing more than conjecture and idle whisperings.

...everyone thinks property is going to keep falling so they are waiting for better bargains.

Dublin is generally held to be the exception to the rule. Those in the know tell us that family homes in Dublin may have bottomed already and are starting to sell now, particularly

apparently in Ds 4, 6 and 8.

Oh really Brendan? Well Collapso tracks asking prices all over Ireland and according to it prices in those areas are still dropping (up to yesterday):

Dublin 4

Dublin 6

Dublin 8

Now there is a murmur starting to go around about good city centre apartments in Dublin. At least three different experts, guys I would have done well to listen to five years ago, .....

You mean before you wrote your piece in 2007 saying the smart ballsy guys were buying up property right now?

The other thing you will hear out there on the grapevine is that people with money are now starting to dip back into property, and that as they continue to see value in it they will hoover it all up, because they have the cash to do so. And in the process they will become even richer, while the rest of us end up owning nothing.

Playing to people's fears and greed at the same time. Classy stuff!

.... rich people are buying up all the property because they recognise that at, in many cases, a third of its previous value, some property might now represent a once-in-a-lifetime buying opportunity.

Another property bubble-Inspirational!

Nowadays, any taxi driver, or anyone at all really, can tell you for certain that property is going to go down again this year and that it may start levelling off again in 2013. Of course, everyone is probably right. But maybe the picture is a little bit more nuanced than that.

grasp those straws Brendan!

But remember when everybody knew everything for sure before? Except they didn't? Nobody knew really. The Government, our politicians, the mighty IMF, the Department of Finance, all the banks, most economists, all the property experts, property developers who had made hundreds of millions up to then. All of them got it wrong.

lol! At least he said 'most'



All I want to know is how much negtive equity is this guy currently in to sink to this level? There isn't a single fact or reference in the whole bloody piece!

link for your own amusement

ILikeBananas

I read that article in isolation but apparently it's just one part of a concerted effort by the Sindo this weekend. There are four different pieces in two pages telling us that the bust is over and it's time to start buying again. Then the banner headline on the front of the paper reads:

Whenever Irish people gather together we talk about it. The rich are buying it. Go on, admit you're thinking about it. Property: Everything you need to know

Translation: Tony O' Reilly demands that you buy property now!

Mr. Loverman

But the economy is still falling apart.
But the economy is still falling apart.
But the economy is still falling apart.
But the economy is still falling apart.
But the economy is still falling apart.
But the economy is still falling apart.

The guy thinks like a child.

Atomicjuicer

Some of us who've been waiting 3 years actually are looking at buying property this year.

Lawros Tache

Atomicjuicer wrote: »

Some of us who've been waiting 3 years actually are looking at buying property this year.

Why?

Zamboni

Atomicjuicer wrote: »

Some of us who've been waiting 3 years actually are looking at buying property this year.

Some of us who have been waiting 5-6 years still wouldn't touch it with a barge pole.

On the Brendan O'Connor thing, a failed comedian and a terrible broadcaster being allowed to write a piece on property in a national newspaper is just an epic fail.

Motorist

Don't forget this gem from O'Connor, and this was published in mid-2007 !

"The smart, ballsy guys are buying up property right now"

http://www.independent.ie/opinion/analysis/the-smart-ballsy-guys-are-buying-up-property-right-now-1047118.html

He's a failed comedian, an abysmal chat show host and even worse "journalist" working at the biggest rag publication in this State.

ronan45

"A year ago you couldn't give away apartments in Dublin. Now there is a murmur starting to go around about good city centre apartments in Dublin"



Yes them murmours around Dublin apartments................

SO brendy how many of them there bad boys did ya schnap up :rolleyes:

SHOVELLER

Brendan O'Connor. Twat (again)

washman3

roll up,roll up. we've turned the corner. start your property portfolio now. get on the ladder you langer. forget those on the sidelines whinging and moaning. tell them go and commit suicide.:mad:

gigino

Motorist wrote: »

"The smart, ballsy guys are buying up property right now"

and how else would you describe the speculators who were gambling buying up property back then ?

Problem is, they are not so smart + ballsy now. Their tail is between their legs.

Motorist wrote: »

He's a failed comedian, an abysmal chat show host and even worse "journalist" working at the biggest rag publication in this State

His show on Saturday night is better than Tubs on the Late Late, and he is successfully writing for the leading, most popular broadsheet Sunday paper.

beerbaron

gigino wrote: »

and how else would you describe the speculators who were gambling buying up property back then ?

Problem is, they are not so smart + ballsy now. Their tail is between their legs.



His show on Saturday night is better than Tubs on the Late Late, and he is successfully writing for the leading, most popular broadsheet Sunday paper.

Hi Brendan, How've you been ?

Jagle

gigino wrote: »

and he is successfully writing for the leading, most popular broadsheet Sunday paper.

:rolleyes:

xper

ronan45 wrote: »

"A year ago you couldn't give away apartments in Dublin. Now there is a murmur starting to go around about good city centre apartments in Dublin"

Yes them murmours around Dublin apartments................

SO brendy how many of them there bad boys did ya schnap up :rolleyes

Who's in the house? No one's in the house.

Piriz

its quite depressing that someone authorised the publishing of these baseless opinions attempting to persuade people to buy property in a bankrupt broken country. i guess anyone who does buy in the next year or two will contribute to the dead cat bounce which once we get that out of the way we can see a further decline towards the real market value...

emmetmurphy

Jagle wrote: »

:rolleyes:

Whats with the rolly eyes dude ?

Jagle

emmetmurphy wrote: »

Whats with the rolly eyes dude ?

the poster specified the writings of brendan to be successful.

I was implying these was nothing successful about it

Motorist

gigino wrote: »

and how else would you describe the speculators who were gambling buying up property back then ?

Problem is, they are not so smart + ballsy now. Their tail is between their legs.[/QUOTE]

Exactly so OConnor's analysis was completely wrong then as it is again. Not surprising coming from OReilly's rag which cheerleaded the property boom and the "celebrity lifestyle" while the country was being flushed down the toilet.

gigino wrote: »

His show on Saturday night is better than Tubs on the Late Late, and he is successfully writing for the leading, most popular broadsheet Sunday paper.

His show is absolute tripe. Have you actually watched it? The Sindo has the highest "circulation" figures - it gives away a huge amount of news papers for free to hotels. pubs, etc so it can claim to be the "most popular broadsheet Sunday paper". That in turn attracts advertisers. I'd love to see the actual sales figures which are closely guarded.

It is fitting a journalist of the calibre of OConnor works for such a toxic rag along with behemoths such as perjurer Willie O'Dea , Bertie's old love interest Celia Larkin (and failed beautician), celebrity journalists Alison OConnor and Niamh Horan not to mention old delusional Harris who defended Bertie to the hilt during the Mahon Tribunal. Dont forget either that editor Fanning said on the Late Late Show last year that he wasn't going to vote in the general election. Must have been too embarrassed to mention the party his paper has cheerleaded since 1997 - FF.

Finally, I have to grin when I think that the Sindo played a huge part in getting their Fianna Fail masters back into power in 2007. And now that is the very reason Fianna Fail are struggling so badly with 20 seats won in 2011.

washman3

also remember that many of these media guys and gals are up to their necks in the property game with their mega mortgages from anglo irish, and will stoop to any low to try and get it moving to recoup their losses.

dory

Which Brendan O Connor is it? It's a fairly generic name. Is it the one who hosts that show on Saturday nights or the Mrs. Browns Boys one?

emmetmurphy

Jagle wrote: »

the poster specified the writings of brendan to be successful.

I was implying these was nothing successful about it

okay cheers for that Bajel

DebDynamite

dory wrote: »

Which Brendan O Connor is it? It's a fairly generic name. Is it the one who hosts that show on Saturday nights or the Mrs. Browns Boys one?

The Saturday Night Show guy. Brendan O'Carroll is the Mrs Brown's guy.

Coriolanus

I have to ask, just to make sure that this actually is as tragi-comic as it seems...
This is this Brendan O'Connor right?

ronan45

xper wrote: »

Who's in the house? No one's in the house.

He may not know much about property but feck me his tunes are catchy.


Jees in da hauseeeeeee

WHuz in de hauseeeeeeeeee


Jeebus in the hauseeeeeeeeeeeee

gigino

Motorist wrote: »

His show is absolute tripe. Have you actually watched it?

yes and its a lot better than that ff lackey Tubridy on the Late Late.

Motorist wrote: »

The Sindo has the highest "circulation" figures .

As audited by official independent sources.

If you still doubt its success, look in any newsagent early on Sunday Morning and see which stack of Sunday papers is the biggest. Check later that evening and see what has sold. Or ask the owner. Its not rocket science.

I'll agree that the Sindo used to have an absolute p***k of an editor of the property suppliment during the boom....whose name escapes me now. The damage he did to the country is incalculable.

yourpics

Motorist wrote: »

so OConnor's analysis was completely wrong then as it is again. Not surprising coming from OReilly's rag which cheerleaded the property boom and the "celebrity lifestyle" while the country was being flushed down the toilet.

His show is absolute tripe. Have you actually watched it? The Sindo has the highest "circulation" figures - it gives away a huge amount of news papers for free to hotels. pubs, etc so it can claim to be the "most popular broadsheet Sunday paper". That in turn attracts advertisers. I'd love to see the actual sales figures which are closely guarded.

It is fitting a journalist of the calibre of OConnor works for such a toxic rag along with behemoths such as perjurer Willie O'Dea , Bertie's old love interest Celia Larkin (and failed beautician), celebrity journalists Alison OConnor and Niamh Horan not to mention old delusional Harris who defended Bertie to the hilt during the Mahon Tribunal. Dont forget either that editor Fanning said on the Late Late Show last year that he wasn't going to vote in the general election. Must have been too embarrassed to mention the party his paper has cheerleaded since 1997 - FF.

Finally, I have to grin when I think that the Sindo played a huge part in getting their Fianna Fail masters back into power in 2007. And now that is the very reason Fianna Fail are struggling so badly with 20 seats won in 2011.

Excellent post. Sums it all up.

O'Connor is a Bertie supporter through and through. He hasn't a clue about anything.

The Indo and The Sindo are complete rags, full of FF support as well as west brit opinions.

jmayo

ILikeBananas wrote: »

I read that article in isolation but apparently it's just one part of a concerted effort by the Sindo this weekend. There are four different pieces in two pages telling us that the bust is over and it's time to start buying again. Then the banner headline on the front of the paper reads:

Please please tell me you didn't buy the rag ?

gigino wrote: »

...
His show on Saturday night is better than Tubs on the Late Late,

Feckin hell that is not much of a recommendation now is it.
He beats a party hack who gained his position through nepotism.

Speaking of nepotism, isn't o'connors other half daughter of indo/sindo editor or some such ?

gigino wrote: »

and he is successfully writing for the leading, most popular broadsheet Sunday paper.

Hmmmm I can think of lots of untalented people who have been "successful".
They are the stables of the xfactors and the other crap reality shows.
Actually o'connor is a prime example of the current malaise in modern society where neck and front trumps talent.
Those who shout loudest and are willing to whore themselves go furthest.

The guy is noxious just like most of the ones he cosies up to.

Motorist wrote: »

...
It is fitting a journalist of the calibre of OConnor works for such a toxic rag along with behemoths such as perjurer Willie O'Dea , Bertie's old love interest Celia Larkin (and failed beautician), celebrity journalists Alison OConnor and Niamh Horan not to mention old delusional Harris who defended Bertie to the hilt during the Mahon Tribunal. Dont forget either that editor Fanning said on the Late Late Show last year that he wasn't going to vote in the general election. Must have been too embarrassed to mention the party his paper has cheerleaded since 1997 - FF.
...

There are only two contributors on that rag that I have anytime for and they are Gene Kerrigan and Shane Ross.
And they do not make it worthwhile to purchase the rag.
The fact that the paper was so far ensconced up aherns hole makes it a joke.

Then to add insult to injury they hire his ex sleeping partner, with absolutely no journalistic background, and one of ex ministers who is a noted liar says a lot about it.

washman3 wrote: »

also remember that many of these media guys and gals are up to their necks in the property game with their mega mortgages from anglo irish, and will stoop to any low to try and get it moving to recoup their losses.

Correction a lot of them were actually gertting hefty mortgages from one mr fingelton.
Thus INBS ensured favourable press. :rolleyes:

BostonB

O'Connor LOL, Indo ROFL which is less credible about anything.

Solair

If you compare prices with many similar sized French and German towns and cities, Ireland is still way out of whack.

I think the rental market is being deliberately distorted by keeping all the NAMA property mothballed. Rental prices are unrealistic at the moment considering how many apartments are being held off the market.

There is nothing fundamentally going to drive the prices up.
Incomes are down, unemployment is very high, banks can't or won't lend, taxes are rising, the Euro is in crisis, our main export markets are in recession...

Unless you just really, really want to buy a house and you can comfortably afford the mortgage and don't care that it will probably lose value, I would think it's a lousy idea to buy.

The sad reality is that this economy could completely collapse over the next while. This isn't a recession, it's a monumental economic disaster caused by speculation, largely on property!

Quite honestly, I think Ireland is so economically unstable at the moment that I would be terrified to lock myself into a mortgage. I may need the flexibility of being able to emigrate quickly if things get really bad over the next while!

BostonB

I assume Nana is trying to let the market decline a bit more slowly than causing a sudden crash. Or its a delaying mechanism for the developers, bankers and cronies.

ILikeBananas

jmayo wrote: »

Please please tell me you didn't buy the rag ?

Absolutely not but my parents have for my entire lifetime. I've tried to reason with them but it's force of habit at this stage although my mother refuses to read half the articles in it because there are so many contributers (I wouldn't qualify them as journalists) that she can't stand. So yeah when I'm around I torture myself by reading the damn thing. (the sport section isn't bad but it's annoying that the Fannings dominate that too)

Why are people getting so excited about this...anyone who bases their decision to buy a house on things they read in the media deserves every thing they get IMO.

I dislike the indo as well I changed to the Sunday times a few years ago its a LITTLE bit better.

dory

mariaalice wrote: »

Why are people getting so excited about this...anyone who bases their decision to buy a house on things they read in the media deserves every thing they get IMO.

I dislike the indo as well I changed to the Sunday time a few years ago its a LITTLE bit better.

The problem is some people do listen. There are people out there who think if it's in a newspaper it must be true. I really can't believe that muppet is given a soapboax for this.

RGDATA!

gigino wrote: »

His show on Saturday night is better than Tubs on the Late Late, and he is successfully writing for the leading, most popular broadsheet Sunday paper.

now that's what i call "damning him with faint praise"

Paparazzo

Zamboni wrote: »

On the Brendan O'Connor thing, a failed comedian and a terrible broadcaster being allowed to write a piece on property in a national newspaper is just an epic fail.

Was just going to say that! Anyone that takes any property/business advice from Brendan O' Connor almost deserves to get burned.

Motorist

jmayo wrote: »

There are only two contributors on that rag that I have anytime for and they are Gene Kerrigan and Shane Ross.

I agree with you about Gene Kerrigan. He seems to be tolerated as a counterbalance if the Sindo are criticised for lack of balance, someone they can point to. What a job he has single handedly balancing the utter tripe and propaganda produced by the rest of the "journalists" there.

As for Shane Ross, dont forget 28th March 2004 - Ross said "Michael Fingletons Irish Nationwide published a cracking set of figures". "All Fingletons figures are spectacular". "Anyone who has a spare 20 grand might still have time carpet bag". Enda Kenny brought this to Ross's attention in the Dail this year, the whole chamber erupted in laughter including Ross who could not defend himself. Shame to see him try to rewrite history now, and interesting that he has never spoken out again Fingleton or Irish Nationwide.

http://www.rte.ie/news/morningireland/player.html?20110525,2964818,2964842,flash,257

5.00 minutes in.

Mr. Loverman

I'd love to know why he says this stuff.

Is it genuine denial (the older I get the more real and dangerous I realise denial is) or does he have some sort of crooked angle, for example, is he part owner of a ghost estate or something like that.

Spread

O'Connor is a prize DH. If it wasn't for his monobrow he'd be just an ordinary dickhead

The_Conductor

What seems to have escaped his attention is the fact that we have signed up to cut expenditure and raise taxes by 26 Billion- yep, 26 Billion, by 2017........
As the old expression goes- fool me once, more fool you, fool me twice, more fool me....... What a fool........

Spiritofthekop

I know someone who works close enough to this chap. He basically says he is a bit of a snake type character not to be trusted one bit and this type of stuff is simply just him looking after his friends property portfolios and his own wallett.

How he gets to give property advice to people on a national newspaper is just disgraceful.

I will never buy that paper.

Property

O'Connor has been bullish on subject of the Irish property market. In July 2007, four months after the peak of the Irish property bubble, O'Connor wrote an article urging his readers to invest in property, saying that "the really smart and ballsy guys are the guys who are buying when no one else is"[24] and "if I wasn't already massively over-exposed to the property market by virtue of owning a reasonable home. I'd be buying property". (Several years later, O'Connor castigated a journalist who brought up the subject of the article during an interview, claiming that it was a valid opinion originating from original thinking).[25]
However, in June 2009, O'Connor wrote an article blaming the governor of the Irish Central Bank, John Hurley, and his "cronies" for being responsible for "excessive lending" and for O'Connor and others being in negative equity.[26] In January 2010 O'Connor wrote of the media's role in the Irish property market when he said "we curse the politicians, the banks and the media that encouraged the madness

jmayo

Motorist wrote: »

I agree with you about Gene Kerrigan. He seems to be tolerated as a counterbalance if the Sindo are criticised for lack of balance, someone they can point to. What a job he has single handedly balancing the utter tripe and propaganda produced by the rest of the "journalists" there.

As for Shane Ross, dont forget 28th March 2004 - Ross said "Michael Fingletons Irish Nationwide published a cracking set of figures". "All Fingletons figures are spectacular". "Anyone who has a spare 20 grand might still have time carpet bag". Enda Kenny brought this to Ross's attention in the Dail this year, the whole chamber erupted in laughter including Ross who could not defend himself. Shame to see him try to rewrite history now, and interesting that he has never spoken out again Fingleton or Irish Nationwide.

http://www.rte.ie/news/morningireland/player.html?20110525,2964818,2964842,flash,257

5.00 minutes in.

I don't know Ross's history on fingleton but he does go mention him in his book "the bankers".
The reason I admire Ross is his support of Eithne Tinney in EBS who probably prevented EBS becoming another INBS which probably saved us a fair few quid in fact.

http://www.independent.ie/business/irish/comeback-queen-1352866.html

Also admire him for his work in highlighting Eugene McErlean and his attrocious treatment by the the first IFSRA boss liam o'reilly and by AIB themselves.
Nerver forget IFSRA was a joke and an insider operation long before one patrick neary came to head it up.

Also really liked Ross's Dail committee interview of AIB cheif one eugene sheehy where he got him to make a grovelling apology to McErlean.

Also check out his article highlighting the joke that is the IAVI and how auctioneers work in this country.

http://www.shane-ross.ie/archives/292/the-auctioneer-and-the-oap/

He may not be perfect and I sometimes find him pontificating a little, but he shure as hell is one of our better business commentators and he was a huge asset to Dail finance committees and to the Seanad.
He has ruffled a fair few feathers in major Irish companies and institutions and to me that can only be a good thing.

dory

What is going on here?

The same poster who was on here defending BoC is on After Hours talking about the wonderful value out there: You can read it here.

Can it be the man himself?

cson

BostonB wrote: »

I assume Nana is trying to let the market decline a bit more slowly than causing a sudden crash. Or its a delaying mechanism for the developers, bankers and cronies.

If you release the amount of property NAMA have into the rental you'll likely see the arse fall out of rental prices which while good for the consumer is bad for the State, why? Because a lot of landlords are using rents to pay their mortgages and if the bottom was to collapse on this market then they'd likely default.

chris_ie

Piriz wrote: »

i guess anyone who does buy in the next year or two will contribute to the dead cat bounce which once we get that out of the way we can see a further decline towards the real market value...

This is one thing that bugs me about the current property market. We're buying a house a the moment, mention that to some people on here and the reaction is "oh you should wait, prices will drop further", "cant believe you'd buy a house now" etc. All this without even knowing anything about the situation! Size of the house, size of the land, condition of the house, how much its costing. I could be buying the most energy efficient and finest finished house in Ireland with 5 acres of land for 50k for they know!

Yes there are still plenty houses out there that are way over priced. The house we are buying has dropped significantly and have also accepted less. So I, in no way, see ourselves contributing to a dead cat bounce.

Frank Black

chris_ie wrote: »

This is one thing that bugs me about the current property market. We're buying a house a the moment, mention that to some people on here and the reaction is "oh you should wait, prices will drop further", "cant believe you'd buy a house now" etc. All this without even knowing anything about the situation! Size of the house, size of the land, condition of the house, how much its costing. I could be buying the most energy efficient and finest finished house in Ireland with 5 acres of land for 50k for they know!

Yes there are still plenty houses out there that are way over priced. The house we are buying has dropped significantly and have also accepted less. So I, in no way, see ourselves contributing to a dead cat bounce.

I would put the same amount of faith in all the people going on about how low prices will be in 5 years time as I did in the cheerleaders of the property boom 5 years ago.

Don't listen to them - the truth is that nobody knows.

gigino

dory wrote: »

What is going on here?

The same poster who was on here defending BoC is on After Hours talking about the wonderful value out there: You can read it here.

Can it be the man himself?

(a) I am not Brendan O'Connor, not by a long shot !

(b) Just because some new 2-bedroom apartments can be bought for only 30 weeks average public sector gross wage does not necessarily mean they are "wonderful value" !

Mr. Loverman

black francis wrote: »

I would put the same amount of faith in all the people going on about how low prices will be in 5 years time as I did in the cheerleaders of the property boom 5 years ago.

Don't listen to them - the truth is that nobody knows.

It's not fair to compare the people making predictions now with the idiot cheerleaders five years ago.

Based on what we know about our economy (it really is absolutely ****ed, there is simply too much debt and sadly we need to borrow more) we know for sure that the next few years will be horrible.

So it is fair to say prices will continue to decline over the next few years. Couple of big reasons:

Young people (i.e. first time buyers) emigrating.
Banks not really giving out mortgages.
Economy totally ****ed and getting worse by the day.
Hundreds of thousands of empty properties.
House prices still fairly crazy.
NAMA eventually unloading some of its portfolio.

I was one of the people who was screaming we are in a bubble! a few years ago. It was obvious. The cheerleaders predictions were based on nothing. Well, that's not totally right, their predictions were based on their vested interest in people buying property.

I know there are some doom and gloomers, and people who hope (and say) prices will drop because they are waiting to buy so they have a vested interest in prices dropping, but if you look at the facts of how ****ed the economy is it is fairly obvious house prices will continue to fall for a couple more years at least.

enoch

Consider the following timeline:
1. Approx 2006/7. Brendan O'Connor buys house. Property market peaks.
2. 2008. Property market starts to fall. Brendan O'Connor writes article advising readers to buy property.
3. 2008-2012. Property market continues to fall, IMF bailout, etc.
4. 2011. Brendan O'Connor writes series of articles arguing that people in negative equity should have debt forgiven by the banks, i.e. be bailed out by other taxpayers.
5. One of the arguments O'Connor uses for debt forgiveness is that the media encouraged the public to buy property when it was overpriced.
Some interesting links here and a lot of irony, particularly if you read point 5 and then re-read point 2.

Other arguments used by O'Connor to justify debt forgiveness:
6. People who did not buy at peak or who borrowed less and bought smaller properties are urged to show solidarity with those who bought at peak or bought larger properties. No mention of whether those who bought property would have shown solidarity with those who didn't buy if prices had gone up, or whether they would have written countless articles supporting a bailout of people who failed to buy.
7. People who sold at the peak to be forced to share the profits of their good investment decisions with less successful investors, on the grounds that the sellers' success was simply a result of being born at the right time, and the buyers' losses were not a result of bad judgement, but simply of being born at the wrong time.
8. The argument that debt forgiveness is something all of us as a whole, the Irish public, will collectively benefit from at the expense of the bankers, i.e. getting our bail-out money back. No other taxpayer will lose as a result, apparently.
9. No acknowledgement that people who bought at the peak still owe exactly the same amount as they chose to borrow (and presumably thought they could afford to repay). They have not been lumbered with any more debt. In many cases, all that has happened as a result of the fall in prices is that they have to live in smaller houses than they would like as they can't trade up, and this is used as an argument for a bailout. No mention made of all other citizens who also have to live in smaller houses than they would like. Low income taxpayers who cannot afford to buy property are expected to fund, through their taxes, the mortgages of people who already own homes?

Disgraceful. Disgraceful. Disgraceful.

Mr. Loverman

Surely the guys loaded now with his RTE gig?

gigino

He probably is loaded with his rte gig, but its possibly on a 6 month contract or something ?

Anyway, in the guys defence + in fairness to him, he says in the conclusion of the original article

"And if we learnt anything the last time, is it not that the smart time to get into property, or anything for that matter, is perhaps not when everyone else is doing the same thing? So, is there enough blood on the streets now that you can get properties for a third of their previous value?
It's almost as if we have developed a new pathology now. Before, everything seemed like a bargain, no matter how expensive. Now, with asking prices of less than half what they were, we snootily ask who would be paying that kind of crazy money for houses.

So look, I'm not saying the smart ballsy guys are buying property now. But the rich ones are. Now remember, they are probably buying it selectively. Property is not a monolith. Depending on where it is and by how much the price has fallen, some property could represent good value now while plenty, still, maybe does not. But maybe it's possible to get too greedy on the downside as well. And maybe we need to try and avoid the kind of groupthink that got us all in this mess in the first place.
No one is saying to run out and buy your first house now, or to get back into the market. But maybe it's time that property wasn't a dirty word anymore. "

Personally I think property will fall for another few years at least, but O'Connor is entitled to his opinion.

checkcheek

Mr. Loverman wrote: »

It is fairly obvious house prices will continue to fall for a couple more years at least.

Is it really obvious??????, in 2006 Alot of people taught it was obvious that house prices were only going to go one way and that was up but a few months later they went belly up, how do you know house prices are going to keep fallin, in a few months time they could be on the rise

gigino wrote: »

Personally I think property will fall for another few years at least.

But in saying what i said up there i personally do think house prics aint gonna rise!!