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The Celtic Ostrich

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:unsure: ] On the Likely Extent of Falls in Irish House Prices.: , ...

www.ucd.ie/economics/staff/mkelly/papers/housing.pdf - Similar pages

this articles author expects house prices to fall 60%-70% in the celtic ostrich country. how could irish people believe the hype that their vi rulers kept spreading. all they ever did was get eec aid from the germans, britian, holland and borrow cheaply becoming the second biggest debters in europe . the whole economy boom was based around the construction industry which was funded by credit, now with IR up from 2% to 4.5% the crunch is happening. prices have dropped 5% in Q2 even estate agents are addmitting its gloomy and the,re falling.the corrupt irish goverment even handed out average public sector salarys of 35,000 euros with pensions to match.shame they never thought the country might need an infracture or health service.everybody just kept feeding from the trough.they eavened believed they were the 2nd wealthist country in the world irelands now falling fast into a ressesion .they ,re now losing trophy jobs (dell,xerox)by the thousands as inflation,higher wages ,oil,gas,electricity all force these companies to EE and china. no english people buy in ireland now they go to france and spain to buy ,i wonder why. :unsure:

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