Friday, September 26, 2008

Quotes of the Week

Week starting 22.09.08.

"It's very plain that the Government has been caught entirely flat-footed. Their flirtation with the property boom and the bubble in the property sector has seriously damaged the capacity of the economy to cope with more difficult times." Richard Bruton, Fine Gael finance spokesman, The Irish Times, 26.09.2008

"By slightly amending existing legislation, the Government could help stimulate this sector of the housing market by providing interest free loans of up to 20% of the value of the home for five years." Alan Redmond, IPAV President, 26.09.2008

"No lifeline should be thrown to first-time buyers. If there is a package, it will only end up being a bail-out for builders and will be of no benefit to first-time buyers." Karl Deeter, Financial Adviser, Irish Independent, 26.09.2008

"You are right to be sorry that you didn't sell in early 2006 when you could have. And you are right to be resentful of your neighbour who did. And no doubt, you would give anything to swipe the smug smile off his beaming face." Isabel Morton, The Irish Times, 25.09.2008

"It's very poor, with the lower priced properties moving quicker but not in any great volume. However, there is no sign of the market bottoming out at-all, at-all." Tom O'Higgins, RE/MAX Property Choice, on Ballybrack Co Dublin, The Irish Times, 25.09.2008

"The economic situation and lack of availability of development funding has had the effect of slowing down some new office developments and requiring that they be planned more rigorously and phased into the market. This should slow down development activity and may prevent an oversupply of office accommodation." Deirdre Costello, Jones Lang LaSalle, The Irish Times, 24.09.2008

"It is a great opportunity to get into the market at the bottom of the price cycle. We have seen a lot of movement in the last two weeks as a result of reduced prices and we would take the view that this has bottomed out now." Ken MacDonald, Hooke & MacDonald, Sunday Business Post, 21.09.2008

"As a result, you are probably looking at even better value for an investor’s point of view, in terms of what is out there in the market than would certainly have been the case." Geoff Tucker, Economist with Hooke & MacDonald Commercial, Sunday Business Post, 21.09.2008

"The very low rate of decline in July was clearly an aberration from the trend over the past few months. August re-establishes that trend and it's likely to continue through the rest of this year." Permanent TSB's Niall O'Grady, Irish Independent, 20.09.2008

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