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Erewhon

The Impact Of Nama On Irish Property Prices

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on NAMA’s impact, land values are down up to 98% in some cases, commercial property is down 50-60%, while residential property is down by up to 50% in urban areas, where transactions are happening, and by 35% elsewhere… with house prices still falling. So if NAMA has been successful in preventing a crash, I wonder what things would be like if it weren’t a success!

this quote is from the comments section

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So if NAMA has been successful in preventing a crash, I wonder what things would be like if it weren’t a success!

Sounds to me like NAMA has been a true success in helping the market move quickly towards a correct and sustainable price level. We could use a bit of that magic in the UK.

NAMA's function was to bail out banks and developers by taking their bad debt and putting it firmly on the shoulders of the Irish taxpayer.

It's anticipated that in doing so, it has held up prices somewhat by stopping a flood of property coming on to the market from desperate debtors.

Of course, down the line when they need to dispose of these duff property assets it might be a different story. My guess is that it will turn a (relatively) short (very) sharp crash into a longer, shallower one.

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  • 146 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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