In an interview that drew a massive listener reaction, Pat Kenny interviewed Karl Deeter about the reasons he believes we need to get people back to work sooner rather than later. We would stress the point that this isn’t implied as doing so in a reckless manner, hand hygiene, distancing and other protocols already being followed in shops and essential services jobs would be required. Dr. Sam McConkey was also on to critique his view. The debate was well rounded and respectful, you can listen to the clip below.
We were part of a discussion around Covid19 and mortgages on Matt Cooper’s ‘The Last Word’ show on Today FM yesterday. The other participant was Brian Hayes of the Banking and Payments Federation of Ireland.
For our part we were impressed with the fact that the banks have been able to do more than 2,000 mortgage restructures per working day since the pandemic driven mortgage breaks were announced. To put that in perspective, it took six years to do 100,000 restructures after the financial crisis. This time around that figure could be achieved in a little over two months, that is something to be commended.
Conor Pope of The Irish Times did an article on housing and quoted our firm extensively, see the screengrabs below.
We did a piece with Pat Kenny on his Newstalk radio show yesterday. We talked about the reasons for why property prices may face a short term volatility but that when balanced against housing need in general that the pandemic will not make housing more affordable in the long term. For that to happen we need many other things to start to resolve such as land prices, non-construction costs and planning timelines.
Property in Bulgaria
Bulgaria has shaken off its image as a hardy ex-communist state and has quickly become one of Europe’s more popular holiday destinations. The glittering Black Sea Coast, excellent ski resorts, historic towns and incredible scenery are attracting record numbers of visitors and investors. Property in Varna, property in Albena and property in Burgas – all beach resort towns – offer all of the traditional fun in the sun, but with fewer crowds and often a more attractive setting, as well as great value. The marks of Balkan culture are dotted across Bulgaria’s diverse landscape. Medieval villages, striking churches, ancient ramparts and picturesque castles can all be seen in the hills and valleys. The country’s main cities are fascinating, vibrant and historic. Sofia boasts an array of architecture from Roman, Ottoman, Byzantine, Revival, Turkish and Slav influences, while Plovdiv contains one of the fines Roman amphitheatres in Europe. Head to the mountains and you can find property in Bansko and property in Borovets; Bulgaria’s popular ski resorts which are fast gaining a reputation as some of the best …
We were asked to take part in an interview on Primetime about house prices and whether or not they were starting to show signs of falling. Our view is that they will fall in time (probably in a damaging way) but that it won’t be soon because supply is still above demand and price indicators like rents are still rising. This is damaging for first time buyers and those stuck paying high rents.
The Today Show with Sean O’Rourke had us on to discuss an article written by Charlie Weston in the Indpendent about the strong level of cash buyers in the Irish property market. Marie Sherlock from Siptu the trade union was also on, what followed was a robust conversation where there was some interesting debate but also a lot of agreement on the problems, symptoms and solutions to the ills of the Irish property market.
We were pleased to see our points about property tax on the Tonight Show on VMT given time to get worked through. The full show is available online at Virgin Media.
The Tonight Show, Monday to Thursday at 11pm on Virgin Media One. pic.twitter.com/Cl2cYxpxXW
— The Tonight Show (@TonightVMTV) January 15, 2019
We were pleased to take part in an interview on The Tonight Show with hosts Ivan Yates and Matt Cooper on Virgin Media TV. The topics raised were fiscal responsibility and public sector wages. Karl Deeter was making the point that with such a good economy we should be planning for when things aren’t good and running a tight fiscal ship.
We took part in a conversation with Matt Cooper on The Last Word about bank taxation with Joan Burton from the Labour Party. We tried to make the point that short term thinking about bank taxation is a mistake, that we are better off getting the maximum amount of money back to the state rather than losing bank value in order to score a short term political win.