First called for in the Kenny Report in 1973, the latest call for a Register of prices comes today from an unlikely quarter (unlikely because one of the main benefits of a Register would be to obviate estate-agent puffery), Tom Parlon of the CIF who says “It has been obvious for some time that Ireland needs a register that captures, in real time, movements in house prices. Hitherto, we have been relying on lagging indicators that tells us what has happened as opposed to what is happening. Given the centrality of the housing market in any domestic economy, a guide to house prices movements as they happen, as is available in the Northern Ireland, UK and US economies, is an absolute requirement”. It is amusing to this author that such calls were not made during the boom when upward speculation was rife but now that we are in a crash (now at 50% off peak says Parlon) where downward speculation is rife, the call emerges!
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[…] talk to the media last week but some of what he had to say was surprising – is he on medication? A real-time Register of actual sale prices… Nama Wine Lake __________________ To view links or images in signatures your post count must be 10 or greater. […]
[…] namawinelake As Ireland watches the value of residential property plummet by 50%, according to Tom Parlon at CIF, it is interesting to see other economies tackle spiralling property values. It will be interesting […]