Housing Crisis, where are the developers?

Housing Crisis, where are the developers?

Ireland finds herself living in interesting times once again, when it comes to the dynamics of our property market and the housing crisis.

From overreaching our targets majorly in the boom years, with 90,000 homes built in 2006 alone. Even the peak land price was €84m per acre paid for development land in Dublin 4. This country went through seven years following the crash where its previous obsession became its greatest source of misery and shame.

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The Dublin Housing Crisis and the homeless

The Dublin Housing Crisis and the homeless

The Dublin Housing Crisis

The Dublin housing crisis has caused much pain and anguish for prospective buyers in our nation’s capital, but what exactly is going on? How did it start? How is it affecting people? And what is the government doing to tackle it?

The crisis has its roots in the big economic crash of 2008. Back then, house prices in Ireland, and especially in Dublin, were sky high, and when the global stock market crashed, so did the Irish property market. Homeowners were sent into negative equity, owing more to the banks than their properties were worth. It was a torrid time, but there was one silver lining: houses suddenly looked more affordable.

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