Quotes of the Week

Week starting 01.09.08.

"Let's remember this about the housing market - it is a market like any other market that is going through a process of adjustment. That adjustment has to take place."
Brian Lenihan in The Irish Times, 05.09.08.

"Affordability has improved a bit, but people are always reluctant to take the plunge while they see prices falling and while there are concerns about employment and the economy generally." John Sheehan, NCB, in The Irish Times, 04.09.08.

"There are two problems with this market - lack of money and lack of confidence . . . If we can provide one, we might be able to help the other”
Ray Grehan, Glenkerrin Homes in The Irish Times, 04.09.08.

"One of the biggest problems facing first time buyers and those trying to trade up is the banks' increasingly tighter lending. This is one way the Government could help borrowers, with a 'right-to-buy' scheme of shared ownership."
Joan Burton, Irish Independent, 03.09.08.

"We are sticking with our view that prices will fall by 30pc from peak levels. Anecdotal evidence points to the view that prices have fallen significantly further than 12pc."
Dermot O’Leary, Goodbody Stockbrokers, Irish Independent 02.09.08.

"Current trends can be attributed to a range of factors including consumer expectations of further house price reductions, the uncertain outlook on the economic and interest rate fronts, as well as the increased cost of funding for lenders."
Pat Farrell, Chief Executive of IBF, Irish Times, 02.09.08 on mortgages drawdown rates.

“Client companies who experienced difficulty in recruiting suitably qualified and experienced staff during the heady days of the market have also, with the firm's blessing, taken the opportunity to recruit from within the firm.”
Savills HOK statement in relation to staff being hired by its commercial customers, Sunday Tribune, 31.08.08.

"I don't see any quick fix over the next few months, and it may even get worse next year . . . but if investors can afford to ride out the next 18 months, then there will be growth once the market comes back to some sort of normality and the banking crisis starts to ease."
Brian Leslie, Managing Director of Primafinance.ie, Sunday Tribune, 31.08.08.