Irish property market has bottomed out says head of Bank of Ireland

Were I a banker I too would be doing my best to convince people that things were getting better, but does the situation of the average citizen support his thinking? Is reality a bit askew from the ideal situation? Are droves of the Irish beginning to repatriate because things are so much better. I am positive that the world would like to see all economies getting stronger, but in reality it just isn't happening, yet. Realtors where I live are talking about how the housing market is beginning to boom yet there are no new families moving in and more and more repossed homes are coming onto the market as banks finally catch up with all the paperwork, which is helping drive down prices that banks won't lend on. Sounds good but isn't exactly true.

Ireland will either have to wait for a New Bailout, or until after the November Elections, for a New War in the Near East !

What a load of garbage ! There is "no Irish property market" The banks are not offering competitive mortgages for regular housing. The only properties that are changing hands are those where a substantial cash deposit is available to cover the bank's exposure to a further fall in prices. So few houses are changing hands that it is impossible to establish with any certainty where the market is. We heard the same comments in 2010 and 2011 and prices continued to fall. This is just another effort by the banks to kick life into a dead market in order to protect the value of its written - down housing stock. Be skeptical of the motives behind any optimistic statements from banks.

The head of Bank of Ireland announces the free-fall of the Irish housing market has bottomed out. This should not be a story at all. It belongs in the comic or cartoon section. Fire Dara Kelly!

Would not trust the banks as far as I could throw them, do not believe a word from them.