Notes on a Micro Bubble
Textbook bubble story: "this was autumn 2007, and this was Northern Ireland. For a brief moment in time a province that was a byword for violence transformed itself into the worlds most sizzling property market. Builders who were knocking out small estates of semis initially priced at £120,000 were selling them for £200,000 on completion six months later. Investors from the Celtic Tiger south were driving north and snapping up anything they could lay their hands on. Banks were falling over themselves to lend."