In a recent podcast both Jim and Chris saying now not the time to raise interest rates by ECB.
Both also claimed it’s only mainly energy or oil causing the high inflation.
These are totally incorrect. inflation was high before Ukraine crisis. Everything has been going up in prices past few years.Also the ECB have printed trillions before the covid came along and kept rates low for over 10 years. Ye are too soft on the ECB on their role in all this and the mess they have created by a loose monetary policy for years. Time to call them out.
Jim, Chris, thanks again for a super podcast. One point that I'd like to pick-up on relates to the rent inflation number from the CSO, quoted at 11.9%. There is much misleading information regarding rent inflation in Ireland and this is a big part of it. The most recent Daft.ie Report showed that rent levels for most tenants in Ireland are remarkably stable with inflation averaging 2% for over 300,000 sitting tenants - these sitting tenants are not experiencing 11.9% inflation. So the 2% relates to a massive number of tenants - these are real people. The most recent Daft.ie Rent Report showed inflation in advertised properties at 11.7%, but this rate actually applies to only a tiny percentage of the private rental market - those properties advertised as available to rent at a point in time. For example today there are just 828 properties available to rent in the entire country and this number is pretty stable throughout this year. The main statistics which media and opposition politicians quote from the Daft Report are based only on properties advertised on Daft.ie for a given period i.e. properties with no sitting tenant and advertised as available for rent, supply of which is dominated by the large investment funds.
In a recent podcast both Jim and Chris saying now not the time to raise interest rates by ECB.
Both also claimed it’s only mainly energy or oil causing the high inflation.
These are totally incorrect. inflation was high before Ukraine crisis. Everything has been going up in prices past few years.Also the ECB have printed trillions before the covid came along and kept rates low for over 10 years. Ye are too soft on the ECB on their role in all this and the mess they have created by a loose monetary policy for years. Time to call them out.
Jim, Chris, thanks again for a super podcast. One point that I'd like to pick-up on relates to the rent inflation number from the CSO, quoted at 11.9%. There is much misleading information regarding rent inflation in Ireland and this is a big part of it. The most recent Daft.ie Report showed that rent levels for most tenants in Ireland are remarkably stable with inflation averaging 2% for over 300,000 sitting tenants - these sitting tenants are not experiencing 11.9% inflation. So the 2% relates to a massive number of tenants - these are real people. The most recent Daft.ie Rent Report showed inflation in advertised properties at 11.7%, but this rate actually applies to only a tiny percentage of the private rental market - those properties advertised as available to rent at a point in time. For example today there are just 828 properties available to rent in the entire country and this number is pretty stable throughout this year. The main statistics which media and opposition politicians quote from the Daft Report are based only on properties advertised on Daft.ie for a given period i.e. properties with no sitting tenant and advertised as available for rent, supply of which is dominated by the large investment funds.
Best wishes,
Mark