Thursday, September 10, 2009

Quotes of the Week

"Taxing the use and development of all land to the point of unviability appears to be a headline grabbing, political manoeuvre to make the NAMA legislation more palatable." IAVI President Aine Myler

"Why has Ireland chosen to adopt the position that the price paid for houses is private information, when this information is vital for the common good in the effective operation of the property market in both buoyant and bad times?" IAVI President Aine Myler

"The property markets are collapsing around the globe, so we are joining the fast pace of the 21st century. Players can build structures that increase their property values, such as schools or eco-friendly wind farms, or they can sabotage opponents by building sewage plants or prisons on the competition’s property," a spokesperson for Monopoly's Waterford-based manufacturer, Hasbro.

‘‘The only solace Nama gives developers is more time to repay loans." CIF director general Tom Parlon.

"Never has it been more important for all property valuations to be carried out in strict compliance with the highest professional standards." David Freeman of Knight Frank Dublin

"The head of Hooke & MacDonald 18-months ago on television went on record to say that the industry could turn-off the supply tap like the flick of a switch, yet the industry is still overbuilding in terms of the completion rate. It defies logic that persons employed in the auctioneering profession can boast about their longevity in an industry where they have persistently been upbeat on prices and recommending that "now is a good time to buy" (their motto and permanent creed), whilst simultaneously complain about vendor reality when it comes to price. They are of course, an unregulated profession where the dictum "Caveat Emptor" resonates. To that end prospective buyers beware! A 2-bed in Dundrum for 339k, wait until its 280k, then 240k etc. Cigarettes come with a 'health warning', these guys should come with a different warning - listening to them and acting upon their advice could seriously damage your wealth!" Derek Brawn, author of Ireland's House Party.

"Will it operate for the industry, because whatever about the valuations and the transfers, if it does not work for the industry, if you don’t have a returning functioning market it will cost the taxpayer an awful lot more than it costs him today." Michael O’Flynn

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