His point is that young people trying to buy their first home were tormented by contstantly being outbid by specuvestors who could leverage their existing property to buy investments, driving prices up and up and up.Please explain?
Do you really think that the problems with our economy are solely down to the property bubble?
Are the jobs lost in Limerick just a result of the property bubble?
The fundamental problem with our economy is the housing bubble, amoung many other things it gave the government loads of cash enabling them to constantly tweak the minimum wage upwards.
The jobs in Limerick are partly as a result of the property bubble because as well as the minimum wage issue all the services required by Dell, the cost of materials, putsourced labour etc. are greatly higher.
Everything is relatively overpriced in this country and the property bubble is one of the fundamental causes of this.