eric pebble Posted February 6, 2006 Share Posted February 6, 2006 Below - Article on "Irish property pyramid". Precisely the same principles apply to the UK; to go in now and buy property is tantamount to suicide; You've been warned!!!! http://www.sbpost.ie/post/pages/p/wholesto...qn=1-qqqx=1.asp Quote Link to comment Share on other sites More sharing options...
Flash Posted February 6, 2006 Share Posted February 6, 2006 (edited) Below - Article on "Irish property pyramid". Precisely the same principles apply to the UK; to go in now and buy property is tantamount to suicide; You've been warned!!!! http://www.sbpost.ie/post/pages/p/wholesto...qn=1-qqqx=1.asp While similar principles exist to the UK, it is not quite the same. The effects of a downturn in the property market in Ireland will be felt far worse than in the UK. The construction sector is a much larger proportion of GDP in Ireland and credit growth is rising exponentially. In my local area, every other person you speak to has "a property portfolio". I'm serious - that is no exaggeration. A correction, downturn or whatever you want to call it, will so completely turn the public's property owning principles on their head, that the effects will be devastating. It's very scary. Edited February 6, 2006 by Flash Quote Link to comment Share on other sites More sharing options...
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