Saturday, April 19, 2008

Silver And Gold

Tom Parlon (failed politician and now chief mouthpiece of the construction sector) and David McWilliams (celebrity economist and soundbite artist) debated the housing market on RTE's Drivetime on Thursday (7 mins - 17 mins on the 'whole show' link).

Listen to Tom Parlon and listen to him tell people that now is the time to buy. In a falling market. Listen to him almost beg people to jump back in, thus shoring up current prices and, of course, his clients' profit margin. Listen to him still pretend that our 'fundamentals' are 'different' even as the country has already spent at least 12 months proving that to be the load of crap it is.

Why on earth should buyers jump in now? If potential buyers wait they'll all get cheaper houses this time next year. Buying now would be like buying a flash TV in December while in the full knowledge of getting it 20% cheaper in the January sales.

Anyway McWilliams nails the greasy fecker Parlon as he still tries to scare the Irish public (admittedly they're not hard to scare when it comes to property). And remember Parlon was coming out with all this nonsense last summer too. Anyone who chose to ignore him then and decided to take the plunge today is most likely getting at least another 7% off. Worth a listen.
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