Hate to say I told you so, but Emmet Oliver in the Independent points out that NAMA is looking like it will be a disaster for the Irish Commercial property market. The prospect of dumping large property holdings on the market, and/or keeping property off market, but overhanging the market will depress prices for years to come.
Every time the Government interfere in the property market, they make a mess of it.
You would think the 2 failures of Peter Bacon might have warned them, but no, they give him a prime position in policy formulation!
Read this article...and batten down the hatches.
New NAMA plan makes fire sales more likely - Irish, Business - Independent.ie