The idea of a ‘catastrophic recovery’ is one where in getting better there are many victims, we feel that’s an appropriate description for the Irish property market as it bounces back.
We were asked to speak to TV3 news about the ECB rate cut yesterday which was rather unexpected. We are now at a point where for some tracker mortgages their interest rate is effectively only made up of the fixed margin over ECB base rate.
We were asked to speak to Clem on KFM radio about the issue of housing shortages and why they happen as well as what can be done about it. We showed that it isn’t just Dublin, that some areas in Kildare are also experiencing the same problem.
This week on ‘Talking Money’ we looked at the ‘cost’ of education. I sometimes say ‘if you think education is expensive try ignorance’ but that doesn’t mean you have to opt for an expensive education. There are trade and professional apprenticeships and other routes to getting highly skilled, and going to university for a lot of people is not the best use of their time, we tried to articulate that while acknowledging the validity and importance of third and fourth level education.
We discussed housing and the economy with Marc Coleman on his Sunday night show ‘Coleman at Large’. Other guests included Dan White from the Herald, Constantin Gurgiev of Trinity, Sheena Horgan who works in marketing and Karl Deeter.
Matt Cooper spoke to John McCartney of Savills and Karl Deeter about the good and bad of any government intervention into the mortgage market.
We looked at the cost of going to college and also considered the financial sense it may or may not make. Sometimes people forget that there are many routes to success and it isn’t limited to going to University, we think going to college is a great idea, but want to stress that there are alternatives and that there are costs and trade off’s to consider.
We were asked to discuss whether or not we have a property bubble at present in Dublin. We don’t have a ‘bubble’ but we do have a boom and booms often lead to bubbles so the time for action is now, not later.
Pat Kenny spoke to us about the report from the ESRI which indicated that many people were now getting out of negative equity due to rising prices.
This needs to be tempered by a realisation that on every commodity that there are winners and losers, the losers are just not as clearly framed as the winners and this was a point we tried to make.