Tuesday, July 3, 2012

Over in Ireland…

House price crash hit starters hardest

We all know that it's game over in Ireland but seeing the numbers really brings it home, eg: "The price of an average one-bed apartment fell 62% since 2007 from €231,000 to €88,000." The home buyers who bought at peak are in the dreaded negative equity trap. While over here the Daily Flail continues talking up the market, the great unravelling is nigh - witness the City of London earthquake (as one paper called it this morning) and note the governor of the Bank of England saying we are on for a five year recession. Bubble. Burst. Back to affordable housing...

Posted by bloik @ 02:04 PM (2329 views)
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