Friday, August 29, 2008

Quotes of the Week


  • The problem [negative equity] will be "much more sustained" this time around, because the average loan-to-value ratio is so much higher now than in the late 1980s, when lenders were far more conservative in their approach, and the correction in houses prices is so much more severe”. The Irish times, 29.08.08.
  • "[negative equity is] not a nice feeling. If you ever want to experience it, go into the back yard and set €50,000 on fire and you'll have a similar emotion." Karl Deeter, The Irish Times, 29.08.08.
  • The builder’s holidays have turned out to be more "staycation" than vacation this year. For many construction workers and tradespeople, the focus is now on surviving the months ahead, according to anecdotal reports from construction workers' unions”. Irish Times, 27.08.08.