‘One Index Of The Present Property Market’


Front page of today’s Property Supplement in The Irish Times

“Housing is the main story for the Irish Examiner. Elaine Loughlin writes that the State is considering taking an equity stake in people’s homes, in an overhaul of the Help-To-Buy scheme. It would see the lump-sum grant replaced with a State loan to buyers, similar to the British model.

One index of the present property market is that today’s Irish Times property supplement has 32 pages – 10 pages more than the main section of the paper.”

John S Doyle, speaking during the ‘What It Says In The Papers’ slot on RTÉ One’s Morning Ireland this morning.

Good times.

Common enough in fairness.

Listen back in full here

27 thoughts on “‘One Index Of The Present Property Market’

  1. Gabby

    I’ll have to win the Euromillions to get on that property stepladder. Good advertising revenue for any newspaper.

    1. Kolmo

      The supposed impartiality of the more serious newspapers in Ireland has been wholly editorially compromised by both profiting in both speculator-led bubbles and stoking the very bubbles they are profiting in (inadvertent or otherwise) with property porn as above – the print media just parrot the interests of the insulated class and in obvious and criminally negligent contradiction of the interests of society at large – it is a social time-bomb that is retarding progress in the rest of society, just walk along the Quays in Dublin and see the future in the many broken lives shuffling around – these things are connected.

      1. Barry the Hatchet

        32 pages! I wonder what the record was for biggest property supplement during the boom.

        I am ashamed to say that, in the years during the crash, I actually believed the criticism the broadsheet newspapers came in for might have tempered their behaviour a little. That they might feel some degree of responsibility for the mess the country was in and be less inclined, in the future, to pimp out the property market and stoke the fires of another epic crash and burn of the economy.

        I was an idiot.

      2. Gabby

        Put that into your election leaflet in 2019 and I’ll maybe give you my number 2 after giving my number 1 to a pro-life candidate.

  2. martco

    mmm….I wonder if it’s already heading for a stall….have noted large amount of for sale signs going up outside gaffs locally in the last couple of weeks

    jittery people deciding now is time to “flip” their investment?

  3. Panty Christ

    Imagine a whole economy based around buying and selling houses and corporation tax. I mean, what could possibly go wrong.

    1. Anomanomanom

      Nothing at all that’s what, what are you suggesting, everyone is grand, everything is grand, look over here shiny new reforms that will never work.

      1. Mysterybeat

        You mean ‘look over there while we distract you with an increase in the marginal rate cut-off, while gouging you in 5 other ways…’

    2. Cian

      We had a large chunk of the economy based around buying and selling houses in 2004 onwards.

      We don’t now. The main changes are the huge reduction of stamp duty, and the fewer numbers of houses being built (less VAT and less income tax).

  4. Cian

    4 acres for 9 million? that’s crazy cheap.

    8.6 acres of RTE went for €107 million.

    DRLCOCO should buy it and build 250 houses on it.

  5. Zaccone

    By my reckoning we’re in about the equivalent of 2005 right now. We’ve got about 3 solid years to get some serious partying in this time, so that when the next crash happens we can use the “we all partied..” line without feeling left-out.

  6. Spaghetti Hoop

    On the plus side, a price-rise lifts some folk out of negative equity. To me that means less than what a home means…..but it may allow home-owners to sleep a little better at night.

    1. Mysterybeat

      I understand the point, but it will come as cold comfort to those who can’t afford a place to live.

  7. painkiller

    Wasn’t there some quote where an Irish politician said that Detroit’s economy is car manufacture, Ireland’s economy is houses – without considering the value of having an export market.

    I recall reading that from 2002-2006, 40% of employment was created in under-unionised sectors like construction and hospitality and 40% was created in the over-unionised public service – those stats alone explain much of the 30bn annual budget deficit we maintained from 2008.

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