Friday, December 3, 2010

Wailing and weeping

Regrets?  I've had a few, but I can't begin to imagine the soul searching going on in Ireland right now.  Where did it all go wrong?

Back in 1975, the average Irish home sold for €11,000.  At the height of the bubble, houses were changing hands for €330,000.  Take out a calculator and work out the percentage increase.

Still then, prices have fallen by a third.  That chart ends in March this year, so it misses out a full six months of red raw housing crash.

And the consequences of this catastrophe? The old curse of immigration has returned. 

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