04 janvier 2009
The Irish Economy’s Rise Was Steep, and the Fall Was Fast
source: The New-York times
Everything, it seems, has grown worse here. The recession started
earlier and its bite has been deeper. Housing prices have fallen by as
much as 50 percent. Bank shares have plummeted by more than 90 percent.
Unemployment is approaching 10 percent.
27 décembre 2008
Rétrospective : les 10 “perles” de 2008
source: LyonMag
Je ne crois pas à une baisse des prix à Lyon”. C’était la conviction de Pierre Bazaille, le président de l’Institut du notariat de l’immobilier du Rhône, interviewé par Lyon Mag en janvier 2008. Dix mois plus, les prix ont chuté à Lyon de 4 à 10 % selon les quartiers. Une véritable crise immobilière qui devrait encore continuer en 2009.
13 octobre 2008
Du "sang dans les rues" irlandaises : La crise frappe déjà les classes moyennes
source: MediaPart
J'ai eu trois suicides ces derniers mois à cause de la pression que connaissent actuellement les gens", déclare un responsable du Money Advice and Budgetering Service (Mabs) dans une ville moyenne du centre du pays
"Blood in the streets", c'est ce qu'on entend le plus ces
jours-ci en Irlande. Les banques se font pressantes et envoient des
"contrôleurs" chez leurs clients. Ils débarquent chez eux tous les deux
jours, exigent de voir les factures et le budget du ménage pour la
semaine. On commence à entendre, ici et là, que les banques ont leur
part de responsabilité dans ce qui arrive.
12 octobre 2008
Crise: spleen à Tallagt (Irlande) la ville des maisons vide
source: Ouest-France
Mais le Tigre celtique a cessé de rugir, la croissance exponentielle irlandaise a cédé le pas à la récession et les prix de l'immobilier, qui avaient flambé, ont pris le chemin inverse. A Tallaght, ils ont chuté de 30% en deux ans, selon les agences locales.
27 juillet 2008
Anxiety grows as plans for homes plummet
source: Independent.ie
The figures showed that builders registered plans to build only 3,000 new homes last month - a 60pc drop on the record 7,900 recorded in June last year.
23 juillet 2008
Paris renonce à vendre son ambassade à Dublin
source: Challenges
Estimée à 60 millions d'euros, la superbe propriété d'Ailesbury Road a vu sa valeur baisser de 10 millions le temps que le Quai d'Orsay se décide à la céder.
29 juin 2008
Time for the banks to cut ties with their builder mates
source: The Post
At the moment, the banks are frantically engaged in
a game of bluff with the property market. Many of their
builder-developer clients -the former crown princes of the boom - have
no cash and cannot service the loans they took out in the past five
years. Sites they paid fortunes for - confident that they could flip
them on to a ‘‘greater fool’’ after they got planning permission - are
now worth a fraction of what they paid.
As a result, the Irish financial system is living in
daily fear of the domino effect, where one large developer failing
might bring them all down.
22 juin 2008
Construction teeters on brink of disaster
source: The Independent
'Misery loves company" were the opening remarks at a European Construction Conference in Dublin last week, and the mood of despair amongst Ireland's builders was palpable.
A drop of 10,000 houses means €1bn less in revenue to the exchequer or 1 per cent growth, and an industry contracting by two thirds in less than 18 months means that the landing has not been soft, but "bloody hard", as one Dublin developer said.
Fogarty also said that there is deep fear in leading firms on the civil side that the National Development Plan is going to be delayed as a result of the collapsing government tax revenues, which he said would be "devastating".
L'aterrissage en douceur est en fait un aterrissage dur et sanglant pour les constructeurs immobiliers irlandais.....
Misery at manor as prices tumble
source: The Independent
The price-tags on high-end country piles and city apartments are falling by millions, writes Daniel McConnell*
But such savage cuts on price can be seen on many of the big properties around Dublin and around the country. Over €10m has been slashed off the price of the French Ambassador's residence on Ailesbury Road.
Les prix des maisons à plusieurs maisons d'euros en Irlande s'effondrent.....(et même la résidence de l'ambassadeur français -) !)
Bumpy ride on a bad debt cycle
source: The Post
Rather smugly and with typical self-delusion, the
Irish banking sector has looked across the Atlantic and claimed:
‘‘Well, we don’t have sub-prime mortgages, so things won’t get that bad
here. Unlike the US mortgage banks, the Irish banks have not
re-packaged their mortgages and sold them on to snake oil salesmen in
Prada.”
But this actually makes the situation worse. An
on-balance sheet bad debt cycle will take longer there to unravel. When
your debts are off balance sheet - as they were in the US - you take
one large big hit, but as these debts were off balance sheet, your
ability to lend is unimpaired.