Greatest Bubble in History: Warnings ignored in US and Ireland; Vacant Irish housing units rise 150% to 350,000 in period 2002/08
Nov 2nd, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Greatest Bubble in History in Developed World: The Economist magazine said in June 2005, that never before had real house prices risen so fast, for so long, in so many countries. It asked: What if the housing boom now turns to bust?
In Ireland, vacant housing units rose from 140,000 in 2002 to 230,000 in 2005 according to Davy Stockbrokers, 266,000 according to the April 2006 Census and an estimated 350,000 today, according to the Property Pin online forum.