When the panic starts – the Irish housing market in 2009?

When the panic starts – the Irish housing market in 2009?

“Panics do not destroy capital; they merely reveal the extent to which it has been destroyed by its betrayal into hopelessly unproductive works.”  

Dicing with housing prices 
Photo by woodleywonderworks


Much has been written about what way house prices have changed in the last year. I am not going to repeat the reams and reams of verbiage that has been in the papers here. It should be sufficient to point out a few resources and let readers draw their own conclusions. 
  • A graph of price rise in Ireland over the last twelve years from the Status Ireland website. 

  • The total number of properties for sale on daft.ie (Irish property website) according to the Daft Watch website on 07/12/2008

  • The five stages of a market downturn – Anxiety, Denial, Fear, Desperation, Panic.

 Stages

  • Before you finally make up your mind what market stage we are in, re-read the quotation from John Stuart Mill at the start of this article and then visit the Ghost Estates of Ireland website.  
  • Think of the future of the Irish housing market as a puzzle with 50,000 pieces.

"..the Construction Industry Federation (CIF) is unhappy that Goodbody Stockbrokers has estimated that the number of unsold new homes is close to 50,000. "

  


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