WHEN PROPERTY BUBBLES BURSTHomeIreland by David Vance April 2, 2013 2 1 min 9 yrs If you think that Ireland is making progress as the poster child of EU imposed austerity, have a look at this! Click to rate this post![Total: 0 Average: 0] Ireland Post navigation Previous postNext post 2 thoughts on “WHEN PROPERTY BUBBLES BURST” Ah, personal debt. The elephant in the room. The Govt are talking about some form of debt forgiveness. The problem with that is are they going to differentiate between: a) a young couple who felt forced to buy a home in 2008 (as prices kept on rising) and are struggling to pay a massive mortgage they now can’t afford due to the downturn versus b) someone who blew all their money and re-mortgaged their house to buy a Porsche/holiday home and now claim they can’t pay their mortgage. Even in the best case scenario for the Irish economy under the present policy everything is based on the hope for a recovery in the property market. But if you talk to college students they are all planning to leave. So who’s going to buy all the houses? Comments are closed.