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April 30, 2012

The Cedar Lounge Revolution

Perhaps I’m far too cynical, but when I read Dan O’Brien in the IT telling us about Central Bank research that says:

Irish house prices were undervalued by between 12 and 26 per cent as of the end of last year.

And:

If correct, property prices could rise suddenly and significantly if the causes of the undershooting in prices were removed.

And then continuing:

The main reasons cited for the continued fall in prices are a lack of investor confidence, negative future house price expectations and an uncertain macroeconomic outlook. Additionally, “the requirement for substantial deleveraging within the Irish financial system and the associated issue of mortgage credit availability are also considered as significant reasons for the decline” according to the report.

I turn once more to Alan McQuaid of Bloxham, who although speaking from the belly of the beast has, at the least, a degree of consistency to his…

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