Was giving a lift to a co-worker and as we were passing through a green-belt which has in the last few weeks been rezoned as residential I mentioned that they’ll be building houses here soon.
He responded “how am I going to sell my house if they keep building houses…it’ll be worth half what I paid for it.”
It’s firmly rooted in people’s minds that house prices have gone down, and will continue to go down. But they have not yet woken up to the reality of how far they will fall. So there will be no short sharp correction, the Irish people are going to be hitting the ole snooze button for next few years at least.
They might have just woken up after about half a million plus watched the Late Late with Eddie Hobbs and Shane Ross as prophets of doom type pinsters(see bubble thread).
Hobbs ran amok.
He even told Ross who was sitting beside him that the bubble paid your salary through property ads in the Indo.
He even put pinsters under pressure tonight
'Rise like Lions after slumber
In unvanquishable number,
Shake your chains to earth like dew
Which in sleep had fallen on you -
Ye are many - they are few.