Brian Finn of RTE’s Business News spoke to Karl Deeter on Morning Ireland’s business news. He asked how the new changes to bankruptcy legislation would affect both borrowers and the property market.
We were asked to comment on the new AIB and IMHO partnership. There are several aspects to this that we find unsatisfactory, however we don’t disagree with trying to help debtors.
We were asked to talk to Drive Time on RTE radio about a borrower meeting we were at with a bank. This meeting was typical of the ones we regularly attend and also typical in both tone and outcome.
While we accept the bank have a collection agenda underpinned by the mortgage contract, their methods for obtaining a result are unnecessarily painful and that doesn’t make economic sense for any party involved.
We spoke to Colm Hayes back at the end of September (forgot to post the piece!); and we talked about the way the property market is going and some of the problems we’ll face.
Last night we took part in a conversation on the Late Debate with Audrey Carville to discuss property and some of the issues surrounding it such as mortgages, arrears, price and what some of the challenges are facing both people and the market in general.
We spoke to Sean O’Rourke about the increased prices in Dublin and what they do or don’t mean, in our opinion it’s a case of a symptom of dysfunction.
We spoke to TodayFM about the PRTB rental report and how it can be seen as a forward view on the property market. For the most part people don’t think of changes in rents as a leading indicator in property prices, but if there is any stability in a yield relationship that is effectively what they are.
We spoke to Jonathan Healy about the new insolvency service, how it was not going to be possible to determine its success for at least three months (as protective certs last 70 days and can last more), as well as the importance of understanding that the security behind a debt is a very different concept to the decency of the creditor.
We spoke to Myles Dungan on RTE Radio 1 about some concerns regarding the apparent recovery in property prices. We think there are too many issues with supply, banking and transaction numbers to have more than minimal faith in any recovery at present. While the market move may have legs, it appears (at least by our analysis) to be based on bad assumptions.