Rising property prices a double-edged sword
As a people, the Irish have long had a love affair with property. It may have something to do with our history and the importance of owning your own piece of earth, or it may just be a national characteristic. Despite the crash of 2007 and the ravages of negative equity that still blight large sections of the community, it now seems that our faith in property is once more in full flight.
While this must be gratifying in that it should bring about employment in the construction sector and restore a real and vibrant 'property market' it is also essential that it be properly policed so that we do not see a return of the 'bubble' that destroyed the Irish banking sector and beggared the economy.
There are a number of factors at play in the current property boom.