Comments on: Ireland could learn a lot from Hamburg’s economic model

By: rayc

rayc — Thu, 07 Dec 2006 00:00:00 +0000

Two observations made on a recent visit to Cork:

* The garish proliferation of illfurnished “Mortgage Shops”
on short-term leases along the quays and in areas such as
Parnell Place offering “100% Mortgages” to those with “no
income records” and “poor credit rating”

* Cost to employers’ of a comparable skiled Pharma operative
in Singapore �40,000 p.a, Cork �140,000 p.a.

By: jmc

jmc — Tue, 07 Nov 2006 00:00:00 +0000

Ireland is not the second weathiest country in the world.
That newspaper report was pure junk.

Its like saying that someone that ownes a E400K house with a
100% mortgage and no equity is weathier than somone who
ownes a E200K house with no mortgage. 75% of the notional
wealth of Ireland is personal real estate, which according
to the OECD and others is overvalued around 50%. So when the
bubble bursts, which it will, Ireland wil very quickly loose
25% of it national ‘wealth’.

By: dermot roche

dermot roche — Tue, 07 Nov 2006 00:00:00 +0000

Just in regards to the report you are all discussing, this
report was drafted by B.O.I !! The report takes into
account property into its calculations, where would we be
sitting if it didn�t ??? mid table at best, in my view …

Given the recent negativity towards the Irish Economy (i.e.
the possible effects of higher Interest Rates on the
property market & our debt repayments), the banks had to do
something to ease the nerves the Irish Investor ..

Its pure spin !! Fair enough we are a property rich
country, but until people start cashing in and realizing
some of their gains, we will be a nation up to our necks in
debt !! This cashing in process will take a while to
happen, us Irish are a greedy bunch & will want more and
more and more !! Remember the Eircom fiasco ?? the savvy
investor was out long before the price went South !! while
the greedy folks hung on for the pot of gold at the end of
the rainbow !! In the end there was no pot of gold, just a
bucket of sh*t !!!!

By: A.N Other

A.N Other — Sat, 07 Oct 2006 00:00:00 +0000

The negative equity people will vote for a party that will
not tax away all the posessions they bought over the past 10
years.

I take great pride now that Ireland is the 2nd wealthiest
country in the world. RTE said that our public infastructure
is worth less than what it was in 1987!

By: D�nall Garvin

D�nall Garvin — Thu, 07 Sep 2006 00:00:00 +0000

I’m living in Aberdeen, Soctland.
Here is a city of ~200,000 people with ~20,000 people being
directly employed by the oil and gas industry.
The number of jobs that are related to o+g is substantial -
bars, hotels, interior designers and financial advsisors.
Aberdeen has largely lost its traditional industries,
fishing and pulp and paper.
The current oil price boom has led to renewed activity and
it should keep the city busy for ~10 years. But after that…
It’s easy to see how over-dependence on one sector of
industry can be unsustainable.