Friday, July 31, 2009
Houses Going For Half-Price in Ireland
Houses in parts of Ireland are now selling at half price as development companies go into receivership. So the US is seeing houses in California and other boom areas sell off at half-price, Ireland is seeing half-price housing and yet Britain is still sitting pretty with house prices rising MOM since May now. The UK housing boom was as nearly as bad as Ireland's with prices rising 205% in the ten years to 2006, whereas in Ireland they rose 235% up to 2006 (The Economist) so how does Gordon do it? Has he made a Faustian pact with the devil?