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There is a difficulty with the responsiveness of the rate interest here to the circumstances here basically because within the eurozone we don't have a huge sway as to the direction interest rates go. That's for France and Germany. The irish central Bank has warned that our borrowings have exceeded incomes for the first time and that borrowers are vulnerable to losing their jobs or a substantial rise in interest rates. Inflation and particularly house price inflation would presumably have triggered the irish central bank to have raised interest rates by now had they the sole choice. One day we may be hoping for an interest rate cut when it suits other eurozone nations to raise interest rates.
The supply of houses was, in one survey, predicted to fall marginally this year, thus putting upward pressure on prices again. Within the unusual circumstances the housing sector finds itself what can be done now while times are good that could be reveresed when the opposite of the low interest rate high inflation comes to the irish economy?
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Originally Posted by Cork
