McWilliams vs Murgatroyd

Why have a two handed economist when you can have two one handed economists? (my jokes deteriorate in quality by the day)

Today there are two very different opinions on the property outlook in Ireland from two very different commentators, first up is David McWilliams who wrote a piece in today’s Independent, where he says the nation is a ‘Bankocracy‘ and that property prices have much further to fall – to the tune of a further 45% according to his figures (saying that current avg. prices are €250k and they should be c. €135k). He implores people to look at the fundamentals of the market and price via yields [disclosure: we support his valuation approach, it was the basis of our investor reports].

McWilliams is probably right, the market is not at the bottom, having said that, there is no metric which can gauge bottoms, even in stock analysis you can use Fibonacci numbers or Bollinger’s to look for trends or turning points, but there is no …

Read More