Monday, Oct 08, 2007
Hahahahahahaha!
Irish Independent: Construction slowdown may boost house prices
"House prices are a simple function of supply and demand," said Mr McArdle.
This economist is trying to claim that builders aren't building as many houses because they're trying to create demand and that this will increase house prices! Or, it could be because the MASSIVE oversupply meanse that there isn't any point in building. They'd have to demolish a lot of houses to even make a dent in the oversupply from lack of cheap credit.
Posted by disillusioned @ 11:30 AM (558 views) Add Comment
6 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. planning4acrash said...
Yes, they are a function of supply and demand, but not simple supply and demand. This man forgets that consumers do not choose the quantity of money available, the banks do that. Property prices relate to the quantity of M3 money supply pumped into the housing market by banks / houses for sale. He overplays the role of housebuyers.
2. Lem said...
Sheer desperation coming through over here now. With 25% of houses unoccupied and 25% employment in the construction industry Ireland's going to get hit hard. Just a comment on the spin that happened here, 18 months ago there was hype going round about a new development being built here, and how you'd have to queue to buy a house. People were there from 5 o'clock in the morning. There are 2 houses still unsold from the 14 that were on sale.
3. cyril said...
also, as any fule kno, demand for housing is elastic.
4. pecker said...
Surely we should have a comedy section these sorts of articles can go in??? I expect more of thse types of articles going forward!
5. Yorkshireman said...
Mr McArdle. I believe you are living in hope. I expect you will die in despair.
6. daft boy said...
I do love irish paddy jokes. What happened to frank carson and that bloke with the wellies with left and right on em. Nice to see paddy humour making a comeback after the troubles.