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FITCH - Irish House Prices to drop 20%


Burnout

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I have a life.
I have just heard this on RTE1 news and will check it out.

"Fitch anticipates depressed mortgage lending, continued declines in house prices and pressure on incomes and consumer confidence. The ratings agency said that access to mortgage lending will continue to hamper property markets in a number of countries, including Ireland. "Banks maintain strict underwriting guidelines and are strongly restricted in their willingness and ability to lend, especially in peripheral eurozone countries," it said.

What type of green shoot is that, turning the corner going forward. The common sense variety?
 


zakalwe1

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hope noonan has factored that into his property tax assumptions
 

Mr. Bumble

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Yikes! Lots of clenched sphincters in banking cirlces.
 

Burnout

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And revenue are sending out valuations on your house based on what exactly, how much money they need?
 

ruserious

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You mean house prices are dropping to a realistic sustainable level?
 

Bill

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And revenue are sending out valuations on your house based on what exactly, how much money they need?
they have a new simplified form

:)
 

joemac67

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I have just heard this on RTE1 news and will check it out. Another 20% seems right to me.
Allsop recently sold apartments in Carrick on Shannon for 85% less than there purchase price in 2006 , does that mean i can get an apartment for free plus a 5% bonus for taking it ?
 

Burnout

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And Pat Rabbit wonders why there is an visual pall of cynisism in the country.
 

Truth.ie

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So much for the Indo telling us we "missed the boat" and their failed attempt to push up prices......again.
 

Socratus O' Pericles

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Essentially we do not have a functioning economy.
 

harshreality

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Uh oh, I don't like corners anymore because every time we turn one we seem go get a hiding!
 

Burnout

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We can still knock 20% off the revenue costing when it drops in the letterbox. Do the politicos just look on this whole debacle as a game? Do they know what they are saying with 'green shoots' etc more like dribbling snot.

I wouldnt let a politician in my greenhouse for fear of what they would do with the 'green shoots'.
 

niall78

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damn it, I'm smart and ballsy. what am i supposed to do now?
You're supposed to be in England getting your bankruptcy at this stage. You've really have missed the boat - are you sure you're really one of the smart ballsy people?
 

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