Wednesday, July 1, 2009
Austin Hughes, Chief Economist, IIB Bank
Speech to Irish Home Builders Association, 12 May 2006:
"In recent months an acceleration in Irish house price inflation has raised concerns that the property market might be developing in a way that threatens not only the stability of that market but also the health of the broader Irish economy. I think these fears are exaggerated.
I think it is only slightly provocative to suggest that a more pertinent question is to ask why Irish house prices are rising so slowly.
However, a range of supportive influences should ensure house prices will continue to increase. We expect house prices will rise by 10 percent on average in both 2006 and 2007. As a result housebuilding will remain a key sector of this economy."
RTE News, 14 July 2009:
"We are past the low point of the downturn, and things will get a little easier in the next six months"