Writing in the Irish Times, Paul Krugman asks: "What did the US and Irish economic crises have in common?"
"First, there was irrational exuberance: in both countries buyers and lenders convinced themselves that real estate prices, although sky-high by historical standards, would continue to rise."
Advertisements
RTE has reacted to the three-year slump in house prices by axing many of its property TV programmes.
“It’s less about big scale, it’s reflecting that people have smaller budgets,” said RTE’s Cathriona Edwards. “The days of showy are over, basically.”
http://www.independent.ie/business/irish/rte-axes-showy-property-tv-series-2106232.html