Quote Originally Posted by needle_too View Post
House prices in Ireland are insane (I live abroad).

I dont mean 'they're a bit toppy' or 'they need to come down a bit' they are completely detatched from reality.

Living abroad allows you to put the services, facilities and infrastructure into context.

Ireland is still decades behind other Euro countries in this regard.

There is no reason to price houses at current levels - there is no tube or s-bahn equivalent.
No Autobhan or M25. No major international haulage sites (Rotterdam) no business hub (London, Frankfurt) no indigenous industries, no natural resources.

Thats not to say there is no talent or that Ireland isnt a pleasent place to be - its a purely economic analysis - there is nothing, absolutely nothing that justifies the prices being paid for property (commercial and residential)

Have a look at this - http://www.forbes.com/forbeslife/2006/1 ... Speed=9000

Living abroad it is clear that prices increased simply because people expected them to increase.

The market has been driven by sentiment for 8 of the last 10 years and its got a long, long way to fall.

But most people dont want to hear this because so many have staked their finances ('I have a 30 year mortgage') and/or self-esteem ('I'm a successful investor, you know') on property prices rising.
You cribber and moaner, you...