The Irish people do not need any reminding of the devastating effect that a property bubble can have. Back in 2008 when the property market in Ireland imploded the Irish banks had to go cap-in-hand to the Government for support. ‘Back us or the ATMs will stop working’ was the blunt message offered to the Irish politicians of the time. They duly obliged by underwriting the deposits held by the banks, preventing any mass withdrawal of funds by the public and financial institutions. The problem with the bank guarantee was that, while it kept the ATMs operating it also underwrote … Continue reading Dublin Property Market Increase Sparks Fear Of A New Bubble

The property boom that gripped Ireland during the 1990’s and the early part of the new century had a dreadful far-reaching effect when property prices crashed. The leading banks in Ireland had to go cap-in-hand to the Government for a bail-out which in turn bankrupted the economy and resulted in extensive loans being required from the EU/IMF ECB troika. On a wider perspective the property crash decimated the economy but also caused a lot of problems on a micro level too. Many Irish couples bought starter apartments in the hope that they could move to a bigger house when their … Continue reading Unfinished ‘Ghost Estates’ a Huge Problem in Ireland