Bubble, Bublle, Faster, Faster

I’m just musing, so this is an IMHO post, but the front page headline in The Irish Independent today (29th May 2014) suggesting that

strikes me as a return to the position put about during the middle of the last property bubble regarding the “need” as some saw it for higher density housing developments. Is it just me or are we moving through exactly the same narrative/hype phase as the last time with “high demand” then “low supply” followed by “support buyers” with “build more” and “build denser” … just a lot faster this time through.

Could it be that in light of the velocity of the recent price spike that the rapid change of “message” from those pushing property suggests they suspect that this will be a short lived bounce?

It all seems to be going a little bit Becket … “Ever tried. Ever failed. No matter. Try again. Fail again. Fail better” … except the aim here may be for future generations of house buyers to fail by paying more for less.

Blue Horseshoe

People want to live in cities near their place of work. One of the many lessons from the past 2 decades is that long commuting is something that people dont want and get tired of once the novelty of living in a larger outer commuter belt property wears off.

There is some vacant land left within a 5 mile radius of Dublin city centre and whilst most of this will go to commercial buildings the rest will likely go to higher density residential buildings ie. no semi or detatched houses.