The houses that nobody wants
IF anyone in the country believes that there is nothing left to be learned about the property bubble, today's report on the number of houses lying vacant around the country will make them think again.
Just last week, Housing Minister Michael Finneran told the Cabinet that there were between 100,000 and 140,000 empty houses around the country. His underestimate exposes a lack of awareness, even at government level, of the extent of the madness that gripped developers and the institutions that financed them.
A scientifically conducted calculation by the National Institute of Regional and Spatial Analysis puts the number of empty houses at three times the government estimate.