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Mark Keenan: 'Exemption restrictions fog our reading of the housing sector but there's no need to panic yet'

  

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Michael McDowell’s promised stamp duty abolition never materialised but still affected the market in 2006. Picture: Collins

Michael McDowell’s promised stamp duty abolition never materialised but still affected the market in 2006. Picture: Collins

Michael McDowell’s promised stamp duty abolition never materialised but still affected the market in 2006. Picture: Collins

When the last property crash occurred, we didn't see it coming for eight months because there was a great big red herring distracting us from the real reasons behind fast flattening prices.

It started in mid 2006, when Michael McDowell, then a PD minister in Government, promised that he would abolish stamp duty in the Budget.


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