32 1 min 10 yrs

I remember someone telling me back in 2007 that you could NOT lose money on property. I begged to differ. That particular person went and bought a property in the autumn of that year for some £300k.  It is now valued at <£180k. The market always win and the same dynamic is in place south of the border. Just think about what this means;

HOUSE prices are likely to continue to fall for another two years, analysts predicted yesterday. It came as a new, official index of residential property prices from the Central Statistics Office showed a 12pc fall in the past year.

It also found that the pace of decrease has picked up in the past two months

Prices are down 40pc from their peak level in 2007. Dublin has suffered much higher losses in value, with the crash cutting prices almost in half. In the rest of the country they are down by a third. The fall of 47pc in the capital contrasts with a plunge of 35pc elsewhere.

Sharp drops in prices were recorded in February and March. The fall of 1.7pc in each month was the highest since July 2009.

Ireland is mired in the aftermath of economic collapse and those property prices that were the emblem of the Celtic tiger are now the headstones of a country that has gone bankrupt.  It is against this background that tonight sees Ireland hype up the prospects of the ludicrous Jedward in the European Song Contest – I think the term is bread and circuses!

 					Jedward during a press confrence after they qualifed for the Final in Dusseldorf at the Eurovision Song Contest

 

 

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32 thoughts on “PROPERTY PLUNGES

  1. There are no sure things in investing, including buildings and land.

    I remember people in NYC saying the same thing to me – that you could not lose money in real estate, that prices would always go up. They were so excited about it.

    An English business colleague lived in Dublin for some years, and made what turned out to be a huge error – he bought a house. A major personal financial disaster.

  2. For anyone interested, the NY Times eviscerated Donald Trump’s real estate practices the other day.

    This guy is not nearly as rich as he claims to be, and if you buy from him you may not get what you think you’re getting.

  3. Yes.

    With this guy, it’s just amazing that banks still lend him money, that investors buy into companies he’s associated with, or that people buy any apartment that says ” Trump ”

    Most of the stuff he built in NY is good. But he slapped his name on many bad projects in various locations. Those who bought lose all, while he gets his fee regardless.

    Caveat emptor.

  4. Sounds as though he might make a good politician, – or maybe even a Pr…. -nah! that could never happen could it? – but then folks do seem to believe everything they are told!…. 🙂

  5. Donald Trump is synonymous with everything that is classless and tacky. He and Mrs. Tawdry Palin are ‘snake oil salesmen’ of the same kind.

    Phantom, what do you know of “Trump University?” I read something about it a few weeks ago- briefly scanned over the article. It was a massive scam as well, right?

  6. My sister and her family just bought a brownstone near 70’s/York avenue, NYC- well marked down from what they were a few years ago- but NYC real estate has held up fairly well, Phantom?

  7. Even worse than the real estate.

    Texas and a bunch of of other states have been going after them for years for their practices, and NY and some other state have ordered them to stop calling it a university, since it is not one.

  8. NYC real estate has had held up much better than say Florida, Arizona, parts of California.

    Some of those places were way overbuilt, but I don’t think that NYC is in that condition at all, even with some of the considerable new construction. They’ll do fine.

    That’s a nice area. And brownstone buildings are wonderful.

  9. Heading out now. Off to Bermuda tomorrow. Someone’s got to keep the airlines in business.

  10. I saw pictures of it- very nice indeed. I like the upper east side, NYC- plenty to do and see.

    Safe travels Phantom- you have the times of it.

  11. As DV implies in his report, the role of the media in diverting the attention of the unthinking mass of the population is vital in the continuation of the gigantic theft of the assets of the RoI. However, when members of the unthinking mass are brought to examine the case against the Establishment, they get it!

    http://www.yorkshirepost.co.uk/news/at-a-glance/main-section/man_cleared_over_7_7_bombers_are_innocent_dvd_1_3379216

    The above case has not been reported in the MSM (national newspapers, BBC etc) but what happened is that the eccentric John Hill (aka Muad’Dib) made a video which claimed that the 7/7 bombers were patsies, and included factual evidence to support the claim. He posted the video to various persons at the time (in 2008) of the trial in Kingston of three ‘terror’ suspects, alleged co-conspirators with the London ‘suicide bombers’.

    John Hill’s trial started on Monday 9th May,on Tuesday a jury were sworn in – and on Wednesday they watched all of his film, ‘The Ripple Effect’, in open court. At 4pm on Thursday 12th May at Southwark Crown Court the jury returned and declared Anthony John Hill innocent of attempting to ‘pervert the course of justice’.
    Mr. Hill had spent 151 days incarcerated in Wandsworth prison over the past few months and this verdict spared him a sentence of up to 20 years in jail.

    This was surely the first ever fully-explored set of such allegations of false flag terror made against any state placed before an ordinary collection of the citizens of that state. It is also clear from the verdict that, when such information is placed before such ordinary citizens the majority of them ‘get it.’ The jury had announced that it could not be unanimous, so the judge allowed a ‘majority verdict’, i.e. ten or more of the 12.

    Southwark Crown Court’s jury of ordinary persons did not reject John Hill’s false-flag narrative as outrageous or untrue. One wonders how many of that jury have now themselves been converted into active ‘troofers’?

  12. HOUSE prices are likely to continue to fall for another two years…

    Way too optimistic. Property bubble-crashes in Sweden and Switzerland in the early 1990s lasted 10-15 years and there is no reason to think that the Irish crash will be any different. Prices will contintue to drift gently downwards for at least another ten years.

  13. Allan@Aberdeen –

    Whatever Hill’s claims, this is why the power elite hates trial by jury and wishes to abolishe it. They hate that while they can investigate, prosecute and try us only our peers can convict us.

    The charge – attempting to pervert the course of justice – is often an odd one. Hill would probably contend he acted to see that justice is done. His crime in the eyes of the elite was to not shut up. Would a panel of judges have dismissed the case against him? Of course not.

  14. Peter –

    Yes, it is way too optimistic. If being nit-picky, I’d disagree with David’s comment that “Ireland is mired in the aftermath of economic collapse” in that Ireland, like many nations, is mired very much within an ongoing economic collapse which has a long way to run.

  15. Going against the common sense that you should never believe anything the government says, I believe the official history because I have no reason to disbelieve it based on evidence.

    I see that Hill’s film is on youtube. I’ll watch it with as critical a mind as I watch government and if I find it compelling I might change my mind.

  16. Fake the moonlandings? The technology existed and certainly exists for the monnlandings to have been conducted as they were so why do you say that they were faked?

  17. Pete Moore – you would be right to do so. This is the first time that Britons selected from the wider public have viewed the counter-argument and the facts which support it. However, the point which I’m making here is taken from DV’s article which mentions the role of the ‘mainstream’ media in diverting attention from what is really happening.

    Ireland is being turned into a feudal sub-state of the banking empire and the corporate media (owned ultimately by these same banks) report on the chances of Jedward winning the Eurovision Song Contest. OHB’s birth certificate was shown to be a fraud by the blogosphere and this is ignored by the same corporate media, then OBL is ‘killed’ and the corporate media report everything that the White House issues even though it’s shown to be a concoction of lies and dodgy claims (record-breaking DNA report, body ‘buried at sea’ in record time. he was armed, he was unarmed etc).

    When the corporate media and the Big Brother control apparatus are removed and alternatives are put before the eyes and minds of previously-sedated people, verdicts like the above are reached.

  18. Ireland is being turned into a feudal sub-state of the banking empire

    Yes Allan, totally correct.

    But 9/11 and 7/7 were jihadist atrocities, not vast government conspiracies as you seem to believe. Cock-up is always a far more likely explanation than conspiracy and in both of those cases the security services missed vital clues before the attacks.

  19. Well Peter – we’ll just have to differ on that for the moment. Btw, why do you reckon the moonlandings were faked? It’s not an appropriate item to raise when considereing 7/7 which certainly wasn’t ‘faked’. After all, the deaths and mayhem were real. I note that the bombs in the tube trains exploded at 08.49.

    This academic report shows the counter-theory to be more probable than the official story:

    http://www.roryridleyduff.com/What Happened At Canary Wharf on 7th July 2005.pdf

    “To summarise and conclude, this paper has presented two theories on the bombings that took place in London on 7th July 2005. The first was presented in the internet documentary 7/7 Ripple Effect released in 2007. When this became popular, a BBC response titled Conspiracy Files: 7/7 was broadcast in June 2009. Based on the evidence presented in this paper, it is by no means clear which documentary is spreading the most “highly divisive and damaging message”. Neither documentary can claim neutrality either in its starting premise, or its analysis of evidence. If 7/7 Ripple Effect is ‘fabricated’, then the claim it is divisive would have some merit. However, this research has not found any instance of fabricated evidence: it is an example of critical journalism that draws wholly on public news sources to formulate a controversial, but plausible, theory. After deploying three different theories of truth to develop insights into new and existing evidence, it is the BBC / Government theory that has a lower level of correspondence with known ‘facts’, is incoherent to the point of being implausible, and is more likely to distort its reports because of institutional controls and political pressures.”

  20. Well,
    I got a couple, and they’re paying their way.
    Plus I was warned that the value can go down as well as up.
    It’s a long term investment…

  21. Allan

    I was being ironic about the moon landings 🙂

    Do you seriously believe that 9/11 and 7/7 were government conspiracies? On a scale of 1 to 10.

  22. Peter – I know, but these are often added (Elvis lives etc) as a diversion from more serious questions and controversies. On 7/7 and 9/11, the hard evidence points strongly to black-ops conducted by government-related bodies, with the purpose of embroiling the US and UK in military adventures which have enormous revenues for the military-banking cartel. Bear in mind that war is a huge generator of revenues for Lockheed, Boeing, BAe etc and the spoils are huge earners for Halliburton, Exxon etc. It’s no longer about ‘belief’ for me.

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