It's not all gloom and doom: some of the things will improve in the downturn

I’m a big bad bear, have been for quite some time, but even the likes of me can see that the property fallout will have some good aspects. News generally covers the bad side of things perfectly well so if you need some of that go Google ‘Credit Crunch’. Today we’ll consider some of the good things.

1. First time buyers will get cheaper houses – Even though the state seems determined to halt the downward trend in property prices (by starting a state backed lender who will give out loans the bank won’t), it is kind of like King Canute hoping the tide won’t come in.

The market as a whole, is a stronger force that the €1.66 billion the state has put in front of it. This will eventually lead to the market clearing values being reached. What is the market clearing value? Well, frankly nobody knows, but we can thankfully describe it: market clearing values are the price on …

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It’s not all gloom and doom: some of the things will improve in the downturn

I’m a big bad bear, have been for quite some time, but even the likes of me can see that the property fallout will have some good aspects. News generally covers the bad side of things perfectly well so if you need some of that go Google ‘Credit Crunch’. Today we’ll consider some of the good things.

1. First time buyers will get cheaper houses – Even though the state seems determined to halt the downward trend in property prices (by starting a state backed lender who will give out loans the bank won’t), it is kind of like King Canute hoping the tide won’t come in.

The market as a whole, is a stronger force that the €1.66 billion the state has put in front of it. This will eventually lead to the market clearing values being reached. What is the market clearing value? Well, frankly nobody knows, but we can thankfully describe it: market clearing values are the price on …

Read More