Houses for €28k in Limerick . Its Government policy.

The fall in house prices has taken on quite a surreal twist . Government policy in Limerick is to drive them down even further.

In areas where the asking price for a house is around **€70k **these days and where you could possibly haggle them down to €50k …the government is getting valuers ( Auctioneers that is ) to value them at as low as €28k and then buy them at that price.

Are the auctioneers saying that fair value in Limerick is half the asking price :open_mouth: and Limerick prices already the lowest in any major urban centre in Ireland . … =Daily-Mon

Think of what would happen if this stunt were tried in D4 !

Not too many burnt out boarded up squats in D4

I never heard of :open_mouth: an owner occupied squat :open_mouth: either Ozzy.

No. But no doubt theres plenty of big time builders, officers of the various courts, journos and “leading” economists on hand and ready to assist with any such valuations - only if its necessary of course…

Must admit it seems like an entirely sensible policy to me. Am I missing something? Are the people forced to sell?

I think they are forced to sell alright.

Would you prefer if they were artificially inflating the price instead?