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Irish Property Bubble

The following chart shows the bubble very well. In 2006, house price went up about 10 times of annual earnings. This should be called as "bubble."



chart
(source: DEHLG & CSO)

Recent Housing News :



Average Irish house prices down 3.3% in year to August 10/04/07 Finfacts Ireland
Average home costs 11.5 times annual salary 09/20/07 Belfast Telegraph


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