Oireachtas Joint and Select Committees

Wednesday, 4 March 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

In another article in or around early 2007, Professor Ahearne wrote in the Irish Independent, warning that the property market was likely to crash and advising investors to get out of the market. He also featured in the "Futureshock" documentary that was broadcast in April 2007, making a remark of stark warnings. For example, he said he could name 30 or 40 hard landings after studying booms and busts in other countries but could not name one instance of a soft landing. He said housing markets just do not work that way. It was about a seven-minute piece in which he was involved. Did Professor Ahearne get any reaction to these comments from people in property-related sectors or from Government officials or politicians following that programme?

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