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z109
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FinFacts.ie : Greatest Bubble in History: Warnings ignored in US and Ireland; Vacant Irish housing units rise 150% to 350,000 in period 2002/08 By Michael Hennigan, Founder and Editor of Finfacts
Hi mods, I'm not sure that the above piece qualifies, but, despite its title, it comes closest of any I've seen to identifying why prices rose the way they did and why we are experiencing a downturn (in both house prices and the economy) at the moment.
I think in the context of past Irish growth (the past five years) it is important that we understand where that growth came from and why that particular aspect of growth is unlikely to reappear in the near future. We should be looking elsewhere (than the construction sector) for recovery from the recession.
Please delete if you feel it is not the fair and balanced summary you are looking for.
Hi mods, I'm not sure that the above piece qualifies, but, despite its title, it comes closest of any I've seen to identifying why prices rose the way they did and why we are experiencing a downturn (in both house prices and the economy) at the moment.
I think in the context of past Irish growth (the past five years) it is important that we understand where that growth came from and why that particular aspect of growth is unlikely to reappear in the near future. We should be looking elsewhere (than the construction sector) for recovery from the recession.
Please delete if you feel it is not the fair and balanced summary you are looking for.