Wednesday, April 18, 2007
VI’s getting stressed over the ‘C’ word
Property analysts have described last night's TV document about a possible crash in the housing market as sensationalist and irresponsible. The Future Shock documentary on RTE claimed property prices could theoretically fall by up to 30% in some areas due to overvaluation as a result of the recent boom. However, experts say this scenario is highly unlikely to ever materialise and homeowners should not be too worried. Marie Hunt from CB Richard Ellis says "irresponsible" scare stories like that examined in the programme can actually damage the property market and the economy in general by undermining confidence.