tag:blogger.com,1999:blog-5829381583204750928.post4027312286561815106..comments2023-10-02T10:31:13.350+01:00Comments on Gombeen Nation: Latest Allsop auction provides usual amusementThe Gombeen Manhttp://www.blogger.com/profile/05024662128072120489noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5829381583204750928.post-17209234122447319112012-05-09T07:25:57.702+01:002012-05-09T07:25:57.702+01:00to me its simple, the average cost of a house must...to me its simple, the average cost of a house must be linked to the average industrial wage. So if before the boom the ratio was 3.5:1 plus a 10% deposit and this will give us where the price should end up.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5829381583204750928.post-74577191133672784732012-05-06T21:13:37.269+01:002012-05-06T21:13:37.269+01:00Charles Mackay - "Extraordinary Popular Delus...Charles Mackay - "Extraordinary Popular Delusions and the madness of Crowds". This book was first published in 1852 and it's still happening. We humans just can't help ourselves!<br /><br />IainIainnoreply@blogger.comtag:blogger.com,1999:blog-5829381583204750928.post-28760674000300140122012-05-05T20:46:31.127+01:002012-05-05T20:46:31.127+01:00That's the f-off elephant in the proverbial (o...That's the f-off elephant in the proverbial (overpriced) living space, Ella.The Gombeen Manhttps://www.blogger.com/profile/05024662128072120489noreply@blogger.comtag:blogger.com,1999:blog-5829381583204750928.post-52046329339866852272012-05-05T17:59:48.993+01:002012-05-05T17:59:48.993+01:00Hi GM, Yeah had a read of that report by the centr...Hi GM, Yeah had a read of that report by the central bank <br />http://www.centralbank.ie/polstats/econpolicy/Pages/econletters.aspx<br /><br />A credit squeeze certainly sends house prices south, but in fact probably the main reason that house prices are continuing to drop is because they are still over priced?Ellanoreply@blogger.comtag:blogger.com,1999:blog-5829381583204750928.post-9474190417996345242012-05-05T17:49:49.997+01:002012-05-05T17:49:49.997+01:00Thanks for that recommendation, John. Could do wi...Thanks for that recommendation, John. Could do with a decent read as it happens.<br /><br />Yes, saw that Central Bank nonsense. The same eejits that presided over reckless landing, though everyone is blaming the EU now, not without a little Germanophobia into the bargain.<br /><br />I moved house just before Christmas, so it would be in my interests for property prices to go up - at least it would give me the readies to get the feck out of the place with a wad of cash to buy a pad in a civilised country if the mood took me. But that's not going to happen. They are going to drop, drop, drop - and depending what happens with the Fiscal Treaty, our money could have just about as much worth as a packet of confetti in a few years' time. <br /><br />But the Irish are still in denial about what they did in the past - the ones who got caught up in the speculation and investing - and still think those days of €1m semis (there was one in Castleknock) will return.<br /><br />Not in our lifetimes.The Gombeen Manhttps://www.blogger.com/profile/05024662128072120489noreply@blogger.comtag:blogger.com,1999:blog-5829381583204750928.post-69258441373920774802012-05-05T11:58:26.107+01:002012-05-05T11:58:26.107+01:00The Central bank came out
the other day with the s...The Central bank came out<br />the other day with the statement, that houses where 26% undervalued. Seems like another attempt to start the property porn again. Worth having a read:<br />Manias, Panics, and Crashes: A History of Financial Crises (Wiley Investment Classics) [Paperback] Charles P. Kindleberger .He taught Economics<br />at MIT for years and he shows that<br />people never learn from financial<br />disasters.Johnnoreply@blogger.com