Jump to content
House Price Crash Forum
Sign in to follow this  
Belfast Boy

What They Said, When They Said It.

Recommended Posts

I have borrowed this idea from the Property Pin website forum.

Just quotes - not full articles please. Let's keep track of what the 'experts' are saying and when they said it. Then we can look back at this thread and see if any of them got it right.

Just to kick things off, here is an example -

Jamie Delargy said in his blog on 24th Sept 2009, "The market is clearly recovering but not at a rapid pace."

.... that's the format. Add comments if you like.

(... and let's try and not fill this thread with Helen Carson's ridiculous ramping quotes. <_< )

Share this post


Link to post
Share on other sites

i started a thread like this a while ago but it never caught on (must be my sparkling personality <_<:lol: )

anyway good to see BB's on the ball, so here's my fav.

http://www.newsletter.co.uk/news/Mortgage-...is39.3923858.jp

Mortgage expert denies 'credit crisis'

28 March 2008

By Colin O'Carroll

HOUSE prices in Northern Ireland are stabilising and settling down to 'pre-frenzy' conditions, according to Northern Ireland's biggest mortgage lender.

Ulster Bank mortgage expert Derek Wilson hit out at what he called "negative and pessimistic" comments in the media that he says are frightening people unnecessarily, causing many to adopt a "wait and see" attitude on buying or selling.

His comments come as a leading real estate firm announced a novel two-month £1m Property Sale right across Northern Ireland.

RE/MAX Property Plus has reduced prices by almost £1m on nearly 50 properties, many in the high-demand area of east Antrim.

The company hopes that the sale will help to reverse the slump in market activity and turn the tide of the current 'buyers' market' since prices started to fall at the end of last year following the unprecedented boom of 2006-2007.

Estate agent Ken Sives, who is based in Larne, said: "RE/MAX Ireland decided to launch a property 'sale' across the whole island as the housing market in both the north and south has slowed significantly with vendors becoming increasingly frustrated that their houses are not selling."

He said most sellers saw the sense in the sale idea.

"They've been pretty positive that we're actually doing something about it rather than sitting about waiting for something to happen.

Mr Wilson said he was frustrated at the mixed messages being heard out in the market.

"There was a frenzy of activity over the past few years and that has now calmed and what we are seeing now is a return to traditional supply and demand.

"We are now seeing steady and increased demand and certainly in the remortgaging market, we are very busy."

Mr Wilson said he didn't want to blame the media, but said he was critical of the coverage of the property sector by some outlets, labelling it "scaremongering".

He said: "The frenzy we had just couldn't be maintained, and it's just coincidental that the end of that comes at a time of a world slowdown.

"You have to remember that Northern Ireland has something of a safety valve in large public sector employment and current stable economic conditions – we're quite different to anywhere else.

"Using words like 'crisis' and 'gloom and doom' are very emotive terms and talking about 'irresponsible lending' is really unrealistic and unfair.

"We pride ourselves on lending prudently – it's in no-one's interest to lend to someone who can't afford it."

He said there was no "credit crisis" here and of people who bought during the boom he said: "Anyone who could afford a mortgage then can afford it now and anyone who thinks they may have a problem – talk to your lender – don't bury your head and think it's going to go away."

Mr Wilson said he thought the market was simply getting back to business as usual and prices will readjust to reflect that.

"I think we are just getting back to a more balanced market.

"Traditionally in Northern Ireland there has been slow and steady growth and we're coming back to that.

edit - just to say the date of the article is key here

Edited by p.p.

Share this post


Link to post
Share on other sites

Oleary reckons the south will soon be run by the IMF

and there will be 500 0000 jobless by xmas

PUBLIC sector workers should brace themselves for pay cuts imposed by the International Monetary Fund (IMF), according to Ryanair Chief Executive Michael O'Leary.

He warned that the ongoing failure of Taoiseach Brian Cowen and the Government to tackle the spiralling cost of the public service wage bill could see the IMF take charge of the Irish economy "very shortly". Asked if he had any confidence that the forthcoming Budget would address the 25 per cent differential between wages in the public and private sectors identified in a report published by the ESRI last week, Mr O'Leary made it clear that he did not.

"It's all talk about action, but no action. The McCarthy report is now nearly three months old, and what have they done about it? Nothing," he said. "I think public sector workers will want to seriously be concerned that the IMF might come in here very shortly like they went into Latvia and cut public sector wages by 30 per cent. These are the hard measures that are going to have to be taken when you have a €20bn deficit with €60bn spending and less than €40bn in tax revenues."

Repeating his call for a Yes vote in this Friday's Lisbon referendum, the Ryanair chief appealed to Government politicians to "shut up and stay out of it" -- claiming they have "absolutely zero credibility" with the public at present.

"I think if we vote No, this will be the end of it. Europe has already bent over backwards to give us back our commissioner and put legal protections there on taxation. I don't think they'll do it [let us vote] again," he said.

Mr O'Leary warned that Ryanair could decide to pull its headquarters out of Ireland if the country votes No. "If Ireland votes No, I can see a time in the future when it is sensible and practical for Ryanair to move its headquarters out of Ireland and put them somewhere you would have a lot of political support, and be at the heart of Europe.

"Whether we vote Yes or No will have no effect on Ryanair but it will have an enormous effect on Irish jobs; for good if we vote Yes and for bad if we vote No. I doubt there would be any immediate implications, but I think over the next two to three years, the cost of Irish Government borrowing would rise and Europe would not be as helpful to the Irish economy as it has been in the past; and I think the amount of inward investment into Ireland would seriously dry up."

Mr O'Leary predicted that there will be 500,000 people unemployed in Ireland by the end of this year.

"The fastest way of getting some of those people back to work is to vote Yes and encourage Europe to continue to bail out our economy. Woe betide us if it's left to our bloody politicians and our even more incompetent civil servants".

- RONALD QUINLAN

rock on!

Share this post


Link to post
Share on other sites

how about the BTL king

who reckons land lords will be slaughtered by the coming increases in interest rate!

Wilson to sell 700 properties

Saturday, September 26, 2009

London: Fergus Wilson, the former mathematics teacher dubbed Britain’s buy-to-let "king," says he’s selling 700 rental properties before interest rate rises bring "slaughter" to landlords in Britain’s housing market.

Wilson, who together with his wife Judith rank among the 1,000 wealthiest Britons according to this year’s Sunday Times Rich List, said it was inevitable that interest rates would rise from a historic low, pummelling rental landlords.

"You’ve got a lot of people who have taken out a mortgage and are right up to their throats" in debt, said Wilson as he settled into a black armchair at a hotel in Maidstone, south- eastern England. "As soon as rates go up, they’re going to be slaughtered."

Rates are forecast to rise, hurting buy-to-let landlords in particular because they pay more than other mortgage borrowers.

This story appeared in the printed version of the Irish Examiner Saturday, September 26, 2009

Read more: http://www.irishexaminer.com/business/wils...l#ixzz0SL9UjJB9

bejasus he might even be

http://www.youtube.com/watch?v=tXaZmY52gHM

rock on!

Share this post


Link to post
Share on other sites
Oleary reckons the south will soon be run by the IMF

and there will be 500 0000 jobless by xmas

PUBLIC sector workers should brace themselves for pay cuts imposed by the International Monetary Fund (IMF), according to Ryanair Chief Executive Michael O'Leary.

He warned that the ongoing failure of Taoiseach Brian Cowen and the Government to tackle the spiralling cost of the public service wage bill could see the IMF take charge of the Irish economy "very shortly". Asked if he had any confidence that the forthcoming Budget would address the 25 per cent differential between wages in the public and private sectors identified in a report published by the ESRI last week, Mr O'Leary made it clear that he did not.

"It's all talk about action, but no action. The McCarthy report is now nearly three months old, and what have they done about it? Nothing," he said. "I think public sector workers will want to seriously be concerned that the IMF might come in here very shortly like they went into Latvia and cut public sector wages by 30 per cent. These are the hard measures that are going to have to be taken when you have a €20bn deficit with €60bn spending and less than €40bn in tax revenues."

Repeating his call for a Yes vote in this Friday's Lisbon referendum, the Ryanair chief appealed to Government politicians to "shut up and stay out of it" -- claiming they have "absolutely zero credibility" with the public at present.

"I think if we vote No, this will be the end of it. Europe has already bent over backwards to give us back our commissioner and put legal protections there on taxation. I don't think they'll do it [let us vote] again," he said.

Mr O'Leary warned that Ryanair could decide to pull its headquarters out of Ireland if the country votes No. "If Ireland votes No, I can see a time in the future when it is sensible and practical for Ryanair to move its headquarters out of Ireland and put them somewhere you would have a lot of political support, and be at the heart of Europe.

"Whether we vote Yes or No will have no effect on Ryanair but it will have an enormous effect on Irish jobs; for good if we vote Yes and for bad if we vote No. I doubt there would be any immediate implications, but I think over the next two to three years, the cost of Irish Government borrowing would rise and Europe would not be as helpful to the Irish economy as it has been in the past; and I think the amount of inward investment into Ireland would seriously dry up."

Mr O'Leary predicted that there will be 500,000 people unemployed in Ireland by the end of this year.

"The fastest way of getting some of those people back to work is to vote Yes and encourage Europe to continue to bail out our economy. Woe betide us if it's left to our bloody politicians and our even more incompetent civil servants".

- RONALD QUINLAN

rock on!

I met a guard last week who told me they've all been issued with shields and batons, and they're all getting riot control training in case any "Stop pay cuts" rallies turn ugly. Could be a novelty if we find ourselves living in the more stable part of our fair island home.

Share this post


Link to post
Share on other sites

O'Leary sounds like he's putting the frighteners on to get people to vote yes in the referendum.

As for public sector pay cuts - my insider contact in Finance says the rumour is an 8% cut in public sector pay across the board.

Share this post


Link to post
Share on other sites

Good idea BB but it seems this thread has gone off the rails already :lol:

Just quotes - not full articles please. Let's keep track of what the 'experts' are saying and when they said it. Then we can look back at this thread and see if any of them got it right.

Last few posts have been full articles and I was looking forward to checking this thread for interesting quotes not having to sift through a whole article.

Share this post


Link to post
Share on other sites

Some financial adviser bloke on 'On the Brink' with Nolan BBC 1 NI, the early part of September - "30-40% down from here in NI".

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   291 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.