Friday, March 30, 2007


Just off the phone from the ESRI and a chat about this 15% overvaluation idea. expressed in their Quarterly Economic Commentary, Spring 2007. It's based on a formula they have created to test the value of property against various other economic indicators. Although they have never run the formula before, they say they have been flagging this level of overvaluation for some time and that today's announcement is no big deal. Of course, if the adjustment to "sounder values" was sudden, it would cause problems but ESRI is forecasting a slower process - the soft landing. Phew!

The ESRI is sending us on some more background on the figure which we will pass on if we can process it.

Anyway, we weren't going to post at all today because we figured so many of our readers would be in Kilkenny. But no ... the user log suggests that people are at their desks & working hard. Meanwhile, those in Kilkenny are listening right now to the following talk

Dawn Raids & Requests for Information, Revenue Audits, Revenue Offshore, Assets Group. (Speaker Julie Burke, Tax Solicitor.)

Spooky, and not as interesting to us as some of the other talks:

Estate Agents & the Importance of being branded. (Speaker John Fanning, Chairman of McConnells. )

National Property Services Regulatory Authority – The Effect of Pending Legislation. (Speakers Tom Lynch, Director Designate of the National Property Services Regulatory Authority and Tim Dalton, Chair of the Interim Board.)

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