Thursday, 30 August 2012

Francis Begbie 1, UCD/Trinners Bumder Economist 0


In a recent post, I said that:

But, a lot less of us actually want to buy houses. Why? We see that it is a lie. We see that 128,416 houses in this country are in fucking ARREARS. We see that most bankers and economists are utterly clueless to the actual system, and the piss poor manner the banks have gone about dealing with debt. We see that being in debt sucks. But most of all, we can't afford to do any of this, even if we wanted to. This will mean that demand for houses in general will fall further, and people will either move back in with their parents, or go into rented accomodation, which will be in a poorer state because who wants to pay a value based property tax?
And a few days later, the CSO release figures on the matter:

In the same period, home ownership dropped from nearly 75% to under 70%.
The number of households in rented accommodation has increased by 47% in five years, according to figures from last year's census.
But of course, I'm just a university student who dabbles in the stuff as a pasttime, and has a thing for Guinness and Eastern European lassies, yet I managed to predict something. Sadly, this puts me eons ahead of the mainstream crowd. Economists are utter fucking idiots. You want proof? Or do you want a sitcom? UCD what have you done to me? I mean, during the boom, lads like Morgan Kelly were mocked and completely ignored, ridiculed by these PHD wielding neoclassical acolytes, briefcase wankers that went on to teach a whole generation of D4 asshats, who subsequently went into places like Anglo Irish Bank and Bank of Ireland, the rest as they say is history.

"Huh! I wonder why rents are going up?"

Marginal spastic utility.

I'll be in the pub.

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