We've hit bottom!

BurnsCarpenter

Phew.

http://www.independent.ie/national-news/lenihan-says-house-prices-now-at-bottom-2124724.html

:rolleyes:

AARRRGH

The guy's a moron.

oflahero

That's nice to know, considering falling wages, rising unemployment, rising interest rates and crippling levels of public debt imminently leading to plenty of new taxes. I'm looking forward to his explanation of how even current unaffordable levels of house prices are reconcilable to the above.

Good try at propping up the landlord class and their dependents, but pesky reality just keeps knocking.

Best case scenario for Lenny here is ten wasted years of a frozen market.

SaKuRa

It would be interesting to know,how many of the countries 300,000 vacant units are tied up in the Nama bundles,if its a high proportion of this figure,and nama are in no rush to sell of the units or wait till an upturn in the market,then potentially prices could stabilise,as natural demand takes up the slack,but if nama decide to fit-out/complete and either rent out or sell off these properties in the short term,then rent and sale prices can only continue to drop,and a large percentage I reckon.

Owen

Of course, now that the Government's monkey has said we're at bottom, all the vacant properties will suddenly sell, and people will also move the homes they've been wanting to shift.

blinding

Is that top of the bottom or middle of the bottom or bottom of the bottom.

He is after all a fianna fail politician.

jobless

sure lads... havent yee got it by now... the only way out of this mess is another property bubble!!.. i mean you dont honestly think these clowns would have any other ideas!

BurnsCarpenter

Over on The Property Pin somebody has described it as "Lenihan Declares Victory in War against Affordable Housing".

CorkFenian

Never felt so depressed reading that article, as was mentioned in this thread, no ideas, but for people to start buying and selling houses again..There is such a fantastic chance to at least change it all around but this..Absolutely pathetic...

CorkFenian

CorkFenian wrote: »

Never felt so depressed reading that article, as was mentioned in this thread, no ideas, but for people to start buying and selling houses again..There is such a fantastic chance to at least change it all around but this..Absolutely pathetic...

http://boards.ie/vbulletin/showthread.php?t=2055874494

^^ Seems to be what people want ^^

AARRRGH

CorkFenian wrote: »

Never felt so depressed reading that article, as was mentioned in this thread, no ideas, but for people to start buying and selling houses again..There is such a fantastic chance to at least change it all around but this..Absolutely pathetic...

I agree. They think our economy should be based around buying and selling property. It really is pathetic.

niallo27

Do we really need another ****ty thread on this

AARRRGH

niallo27 wrote: »

Do we really need another ****ty thread on this

Did you really need to click on this thread if you didn't want to read it?

niallo27

AARRRGH wrote: »

Did you really need to open the thread, read it, and post that...?

how would i get my point across if i didnt post it, all these threads pointing out the same thing, we know we haven't hit rock bottom, its a long way to go, but its in a lot of peoples best interested to tell people we have so why are we surprised when we these articles

AARRRGH

niallo27 wrote: »

how would i get my point across if i didnt post it, all these threads pointing out the same thing, we know we haven't hit rock bottom, its a long way to go, but its in a lot of peoples best interested to tell people we have so why are we surprised when we these articles

Most people believe whatever they read in the papers. The very frequent posts about rent being dead money, property being good value, etc. in this forum is the proof.

I personally think it is good to point out the bull****.

Zamboni

Speaking of bull**** did ye see the scumbag from the Real Estate Alliance on the rte news there?
Lying through his teeth. I do have a tiny bit of sympathy for the ftb's who will make false starts because of scum like him. Only a tiny bit though...

stepbar

Na, that guy actually believes what he's saying.... Sad really.... I must dig up the links of the property I've looked at. Quite a number of them are still for sale.

mdebets

oflahero wrote: »

That's nice to know, considering falling wages, rising unemployment, rising interest rates and crippling levels of public debt imminently leading to plenty of new taxes. I'm looking forward to his explanation of how even current unaffordable levels of house prices are reconcilable to the above.

Good try at propping up the landlord class and their dependents, but pesky reality just keeps knocking.

Best case scenario for Lenny here is ten wasted years of a frozen market.

Stop talking down the economy. Brian Lenihan is the finance minister, so he is much more competent than you. If he says the house prices are at a bottom, they are.
People like you who talk down our economy are the reason we have all these problems. Without you, we would still have a increasing econom and house prices would be at least 30% above 2007 prices, not down like they are now

stepbar

You forgot the rolleyes....

testicle

mdebets wrote: »

Stop talking down the economy. Brian Lenihan is the finance minister, so he is much more competent than you. If he says the house prices are at a bottom, they are.
People like you who talk down our economy are the reason we have all these problems. Without you, we would still have a increasing econom and house prices would be at least 30% above 2007 prices, not down like they are now

Hi Brian.

For info, all you are is a Barrister. You know Jack Shit about Economics or Finance. You're only the Minister for Finance because you are pals with Brian Cowen.

Love & Kisses,
testicle

SomeGuyCalledMi

Lenihan just bought 30billion euros worth of property. of course he says its at the bottom.

rightwingdub

There are further falls in property prices to come especially when the ECB increases interest rates on tracker mortgages and the Irish banks will increase interest rates even further this year on fixed and variable mortgages so property prices have further to fall.

The Irish property is getting a good kick up the arse and tightly so for the madness from the period 2000 till 2007 especially.

Joey the lips

AARRRGH wrote: »

The guy's a moron.

I dont agree he is a moran in fact although not an f.f man I quite like him. However on this subject I feel he is like one of the stewarts trying to convince passengers that titanic is not sinking..

I dont think property has hit bottom yet especially seen as the govt plan to cut the rent allowence in the next budget. This will no doubt put stress on rents bringing them down again which will put strees on house prices bring them down.

I think his plan is trying to restore confidence in which we will borrow from the banks because honestly if we dont start borrowing and the banks dont start lending there is a lot more trouble ahead.

AARRRGH

Joey the lips wrote: »

I dont agree he is a moran

Could you tell me some things he has said or done which have been correct?

rightwingdub

Joey the lips wrote: »

I dont agree he is a moran in fact although not an f.f man I quite like him. However on this subject I feel he is like one of the stewarts trying to convince passengers that titanic is not sinking..

I dont think property has hit bottom yet especially seen as the govt plan to cut the rent allowence in the next budget. This will no doubt put stress on rents bringing them down again which will put strees on house prices bring them down.

I think his plan is trying to restore confidence in which we will borrow from the banks because honestly if we dont start borrowing and the banks dont start lending there is a lot more trouble ahead.

I'd say the government will abolish the €400 per year rent allowance for tenants in the next budget, also I wouldn't be surprised if the government starts to tax landlords for renting rooms under €10k per year, I'm still paying €400 per month for a duble room in South Co Dublin, got it reduced from €450, I reckon its still about €70 overpriced.

Lenihan is trying to get people to go out and buy property although I wouldn't be surprised if he had a different view privately on the state of the Irish property market.

Joey the lips

AARRRGH wrote: »

The guy's a moron.

AARRRGH wrote: »

Could you tell me some things he has said or done which have been correct?

I dont support fianna fail so I am hardly likely to issue a benefits list of the next leader of the party.... But regardless I dont think he is a moran...;)

red herring

Property prices are falling because ''brian lenihan says so''

Wow. so if brian cowen comes out and says rates of unemployment are dropping, they are.
Yeah just ignore the fact that rates of unemployment are worse than ever. No amount of media propaganda trying to scare first time buyers into purchasing because the markets supposedly ''bottomed out'' will get the market ''on the move'' again.
This is just more scare mongering propaganda trying to bully people into buying by telling them ''housing prices will never be as good again''

This is not the way to get the market on the move again.

bryaner

AARRRGH wrote: »

Could you tell me some things he has said or done which have been correct?

IMF Seem to like him

AARRRGH

bryaner wrote: »

IMF Seem to like him

The IMF don't care about the citizens of Ireland. They like him because he has "sorted out the mess". Unfortunately he sorted out the mess by screwing us over.

He's supposed to do what's in our best interests. He isn't doing that.

Joey the lips

red herring wrote: »

Property prices are falling because ''brian lenihan says so''

Wow. so if brian cowen comes out and says rates of unemployment are dropping, they are.
Yeah just ignore the fact that rates of unemployment are worse than ever. No amount of media propaganda trying to scare first time buyers into purchasing because the markets supposedly ''bottomed out'' will get the market ''on the move'' again.
This is just more scare mongering propaganda trying to bully people into buying by telling them ''housing prices will never be as good again''

This is not the way to get the market on the move again.

I am slightly confused by this comment. He actually says they have stopped falling.

bryaner wrote: »

IMF Seem to like him

I beg to differ. The IMF hates any socialist democratic govt... which is what we are

bryaner

Joey the lips wrote: »

I am slightly confused by this comment. He actually says they have stopped falling.



I beg to differ. The IMF hates any socialist democratic govt... which is what we are

Socialist