Future Shock: Property Crash

For me, this programme is only confirming what I already thought would happen. For others, it's probably sensational reporting. Which are you?

For those who didn't see it... [broken link removed]

I couldn't hear most of what was being said over the high level ominous background music so mentally switched off and started reading AAM. At least it wasn't accompanied by George Lee's doom laden tones or I might have committed suicide.

was a very good programme and kind of described what is already happening, hopefully it won't be as severe as the worst case scenario presented though. You have to live somewhere.

Yeah, most of it was what's already happening. Although I thought the fact that some EA's and some Bank's were bowing out of the property market says a lot.

The quirky filming style made me sea sick!
Still though, some of it was just too muck, like the brain tumour attributed to the stress. It was a bit one sided, not what I would expect from a public service broadcaster.
The Joe Duffy show should be interesting tomorrow if peole are really spooked.

All the usual arguments that have been rehearsed on AAM a million times.

I like a good disaster movie so enjoyed it.

Excellent program, i do think people are in denial . I d like to hear th other side and what can be done to soften the blow. Its interesting to hear that very little of the ssia money is being cashed.Maybe thats a good thing?

rob30 said:

The quirky filming style made me sea sick!
Still though, some of it was just too muck, like the brain tumour attributed to the stress.

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I was only listening at that stage and for a moment, when I heard that comment, thought that I was listening to an episode of C4's Brass Eye or something.

Thought is was sensationalised for max effect. Some points of the programme are valid, but they were played out to max impact. As the point was made that asset markets like property increase and fall on the basis of sentiment. It would be terrible if this type of programme was to the basis for a change in sentiment.
Property purchases can only be made on the basis of each purchasers own circumstances and sentiment-not that of other people. Personally I would prefer to rent in a nice location-close to work or wherever rather than be saddled with a 1700 per month 35yr mortgage-which is in effect renting from the bank for about 16years. Renting also carries less risk, less cost and more flexibility. I am a home owner and investor but i have no problem paying rent if the circumstances suit it.
My 2 cent worth!

I thought it was reasonable enough until the "fast forward bit" at the end...then it descended into tabloid farce.

I thought 2 things were especially bad.

A. The brain tumour section. What value, other than scaremongering, can this add to what was presented as an economic analysis of current situation.

B. The "what If " stuation at the end, where specific scenarios were analysed and specific figures quoted. This only lacked a hurried and mumbled voice over, a la the Simpsons where :
"these figures are for illustration purposes only and may not be accurate......."

Of course many people in any of those specific brackets will take fright to being pointed out in such a way.

I agree with much of what was discussed but it is easy to cherry pick past examples from other economies and match them with hand picked current signals.

All in all they could well talk up the property bust that MacWilliams has been forecasting for years.

ButtermilkJa said:

Yeah, most of it was what's already happening. Although I thought the fact that some EA's and some Bank's were bowing out of the property market says a lot.

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I think the HOK Savills thing is a bit over stated.

ie HOK know what s ahead so pulled out.......

but...

Savills, the naive muppets, bought a ship waiting to sink??

I have moved this to the Letting Off Steam Forum to restrict it to Frequent Posters.

We are not going to allow another long repetitive conversation on property prices. Please limit your contributions to discussion of the programme.

Brendan

Will this be available to view online on rte, or do they only put their own output on their site? I know a few people abroad who would be interested in seeing it. Or will there be an illegal copy on youtube some time? (None yet!)

Richard Curran is on a winner with this one. He presents a programme about the Irish national obsession so he's guaranteed healthy viewing figures. He goes for a heavy negative bias to really get the attention of anyone who's already feeling nervous given the slowdown. If a crash does happen he lays claim to calling it. He refutes all allegations that he may have contributed to it.

just thinking
the first gulf war was the worlds first live telivised war from hundreds. Perhaps with the media interest in the Property crash Irelands will become the first live telivised property crash, where we will be going live to our reporter in downtown suburbia wher another person has just gone in to negative equity and to Charlie for another live reposession! And thats not even mentioning wht TV3 or Sky would be up to! ;-)

LDFerguson said:

Richard Curran is on a winner...If a crash does happen he lays claim to calling it. He refutes all allegations that he may have contributed to it.

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Without doubt this programme will cause a degree of hysteria...as a previous poster said the Joe Duffy Entertainment Show should be interesting tomorrow. This programme will have been the first prediction of woe many people have seen. Easy to forget that in our AAM world...

rob30 said:

Will this be available to view online on rte, or do they only put their own output on their site? I know a few people abroad who would be interested in seeing it. Or will there be an illegal copy on youtube some time? (None yet!)

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Tabloid journalism at it's best.

Some valid points definitely but sloppy, poor sensationalist journalism. Thought RTE could do a bit better than this, very disappointing.

For years there has been nothing but "property porn" broadcast into peoples home on that personalised billboard we all love(tv). That was the second program with a negative outlook on property to my recollection .