Oireachtas Joint and Select Committees

Thursday, 26 March 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of Joe HigginsJoe Higgins (Dublin West, Socialist Party) | Oireachtas source

There were other programmes including "House Hunters" and "House Hunters in the Sun". The presenter of the former programme, in a web chat on RTE's website in May 2007, wrote "... buy now, buy if you can ... Supply in property is currently outweighing demand and there could be deals to be done". She also wrote, "My advice is to buy now ... should the next government abolish stamp duty for first timers this will simply put the price of properties for first time buyers ... UP!" and "I suggest buying now before buyers come back to the market". The presenter was asked, "Do you think that the property market could crash?" and replied as follows: "No ... I don't think any government can afford to let that happen. A levelling off is what we are seeing." This was in May 2007. Again I raise the issue of a conflict of interest because this was someone who was not a so-called expert but a player in the property scene. The first-time buyers who were being given advice in 2007 may have acted on that advice, just before the bubble burst and finished up in serious negative equity. Does Mr. Mulligan think that RTE might have some responsibility for that disaster?

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