Comments on: HOOKE AND MCDONALD: TURTLES ALL THE WAY DOWN http://www.irishelection.com/2007/11/hooke-and-mcdonald-turtles-all-the-way-down/ Coverage of Irish Politics, News and Current Affairs Thu, 09 Feb 2012 19:43:54 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: Paul Cassidy http://www.irishelection.com/2007/11/hooke-and-mcdonald-turtles-all-the-way-down/comment-page-1/#comment-62386 Paul Cassidy Fri, 01 Feb 2008 13:55:04 +0000 http://www.irishelection.com/11/hooke-and-mcdonald-turtles-all-the-way-down/#comment-62386 Another layer that we may be forgetting is that the purchasing power of our Irish professionals is diminished. The financial services sector is the third largest employer in Dublin, without a global mortgage resale market these employees, the popes children, are not making enough to take on a mortgage of their own. This will continue to weeken demand in the Irish property market. For estate agents to boost sales they will need to innovate, attack international markets, especially for commercial property. New marketing ideas can be viewed on www.captivatemedia.ie. Another layer that we may be forgetting is that the purchasing power of our Irish professionals is diminished. The financial services sector is the third largest employer in Dublin, without a global mortgage resale market these employees, the popes children, are not making enough to take on a mortgage of their own. This will continue to weeken demand in the Irish property market.

For estate agents to boost sales they will need to innovate, attack international markets, especially for commercial property. New marketing ideas can be viewed on http://www.captivatemedia.ie.

]]> By: Aaron McDaid http://www.irishelection.com/2007/11/hooke-and-mcdonald-turtles-all-the-way-down/comment-page-1/#comment-60596 Aaron McDaid Sun, 25 Nov 2007 21:22:30 +0000 http://www.irishelection.com/11/hooke-and-mcdonald-turtles-all-the-way-down/#comment-60596 "easy credit has vanished up the American sub-prime" It's a global subprime issue. America simply has the dubious honour of being the first place to notice the steaming turds that are on their balance sheets. If Ireland had a few more redundancies 12 months ago, we could all just as easily be talking of a global credit crunch that started in Ireland. "Irish property owners are sitting on property, instead of renting it out" This happened a lot in the past but it might even be less prevalent now, not more so. In the past, speculators would sit on a house for 12 months to sell on for a profit; they didn't want a pesky tenant who might want to stay on and they also say the price shooting up. But now, they'll have to rent it out or else the bank will repossess and auction it. Either way, occupancy will go up and also smaller families will buy/rent sensibly sized houses for themselves - and rent will continue to go down. “easy credit has vanished up the American sub-prime”

It’s a global subprime issue. America simply has the dubious honour of being the first place to notice the steaming turds that are on their balance sheets. If Ireland had a few more redundancies 12 months ago, we could all just as easily be talking of a global credit crunch that started in Ireland.

“Irish property owners are sitting on property, instead of renting it out”

This happened a lot in the past but it might even be less prevalent now, not more so. In the past, speculators would sit on a house for 12 months to sell on for a profit; they didn’t want a pesky tenant who might want to stay on and they also say the price shooting up. But now, they’ll have to rent it out or else the bank will repossess and auction it. Either way, occupancy will go up and also smaller families will buy/rent sensibly sized houses for themselves – and rent will continue to go down.

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