Monday, June 15, 2009
What a difference 2 year's make
The smart, ballsy guys are buying up property right now
If you're smart and you have balls and you're dealing with the right buyer you can knock 10 per cent or more off the price of a house these days. And that could well be a house that has already been reduced in price by 10 per cent or more in the last six months. Because while the big picture suggests a 3 per cent drop, the big picture is made up of lots of little pictures and you don't knock 3 per cent off the price of your house if you can't sell it. Individual house prices fall in substantial chunks.
John D Rockefeller famously said that the way to make money is to buy when blood is running in the streets. Buying into a boom is kind of a mug's game, and, as we know, anyone can do it. The really smart and ballsy guys are the guys who are buying when no one else is. The guys who made real money on property in Ireland were the ones who bought property before everyone else, when it was unfashionable. They were in a minority. Most people who bought property bought it recently, in a seller's market, for top dollar. Which makes no sense when you think about it. When you think about it, it makes sense to buy property now. Though of course some people say it always makes sense to buy property. There is no such thing as a good or a bad time to buy. It's always a good time to buy.
July 29 2007
Hurley and his banker cronies have ruined this country. Fire him now
AS A homeowner, in massive negative equity, who knows a lot of other homeowners who are in massive negative equity, I want to know why John Hurley, Governor of the Central Bank of Ireland, has a job. I want to know who the fuck John Hurley thinks he is. He and his Central Bank cronies have made a complete balls of this country. I want John Hurley fired.
John Hurley announced last week that the kind of dramatic and devastating property price falls that we have seen in Ireland over the last year or two were "inevitable". He also said that he expects further falls in house prices this year. "It's anybody's guess where house prices will go in the future," he says.
You can almost picture him throwing his arms up in the air with an idiotic Fr Dougal smile on his face, as if none of it was anything to do with him.
Most extraordinarily, Hurley said, "I think there are key issues in relation to valuation which must be faced in the coming months and that's very important to ensure the success of Nama."
Who is smart and Ballsy now Brendan??
A paid Hack who believed his own hype, and was clearly caught with his pant's down.
Shit head's like this are as much to blame for this as Seanie Fitz.
Journalism in this country does not exist because prick's like this are paid by advertisement revenue and they dare not report the truth.
Posted by Southofdub at 11:18 AM