Re: Re: The Building Boom Is Over!
@PVC King wrote:
This thread has been annoying me for a while; BoBs latest drivel has tipped me over the edge 😡
The building boom is as the title says over; but this will if someone sticks it in their calendar to reopen this in 3 years time I’m betting that this phase will be correctly diagnosed as a pause and not a destination in itself.
To quote the great man “Wall St got drunk and now it has a hangover” but as Greenspan was quoted in the FT as saying the irrational nature of markets means that we move from a mindset of total euphoria to total dispear in a second for short periods whilst the truth lies somewhere in between.
The commercial market will pick up in Q3 2009 with residential growing by Q2 2010; no Irish bank will fail and higher charges will result in sufficient profitability to sustain the next irrational bout of euphoria.
Hopefully in the next incline planning considerations will be more prevalent than the irrational fear of people not being able to enter the property ladder.
In the interim I’m looking to add the the PV 3
1 Quintain Estates and developement QED:LSE – Share price <50% of net asset value
2. Whitbread WTB:LSE – great numbers last week costa up 14.3%, Premier Inn are doing well from corporate travellers being nailed with crap hotels by senior managememt cutting costs
3. Anglo Irish Bank ANGL:ISE – one of the most shorted stocks in Europe; unfairly it has excellent management
Fingers crossed Lehman survives and 28,000 jobs are saved and that a line can be drawn in the sand that the last major European / G8 bank is in danger of collapse by rumour; no matter how bad a bundle of mortgages are 80% will never default yet this is what is causing the current bout of irrational psychology.
yep keep the fingers crossed thats a very rational response to the fact Lehman posted 4 billion dollar loss for the last quarter. lets let the CEO know , that we have our legs crossed as well, in fact lets all cross fingers and stop being pessimistic and looking at the bottom of the balance sheet and the CSO figures, thats a much more rational repsonse. What did you cross when Fannie and Freddie Mac were nationalised 😉
And wasnt Greenspan one of those who was meant to regulate Wall Street, he presided over the 80/90s digital euphoric boom/boost and then printed money like it was going out of fashion , money that financed the headache globally we are now feeling, but heh if you think him a great man thats your perogative.
Dave123 : maybe they can quote you on the foreclosure notices and P-45s that are been sent out all over the country, we are taking your house , and your losing your job, dont be pessimistic,
I could go one but I will defer to he superiour intellect on this site as I said Architects are steadfastedly steering societys ship , I think I put it best in my earlier remark… Your record of building achievement as well as your record of social advancement will stand for all time for all to see. Truly ARCHITECTS in the finest sense of the word , not only architects of the citys we live in but also architects of the society within these cities.