If I was in any doubt that property has consumed this country utterly, I doubt it no more. I actually wasn’t in doubt to be frank. I mean your powers of observation would have to be stunningly feeble, if you hadn’t noticed by now the obsessive fascination. We all know about the building boom economy, the tens of thousands of empty houses, the absurd price that land in Ireland commands, the property hot spot, off plan, globe trot and the unmerciful serial fleecing of deluded innocents. The evidence is there as plain as the soffit on your semi. This country has fallen victim to a fixation akin to the Easter Islanders destructive Maoi carving cult.
The Irish housing cult is crumbling now however. And the cherry on the apogee has to be the current brouhaha of an election campaign. A profoundly pitiable piss and wind affair, dominated by guess what? Houses.
Stamp duty, stamp duty, stamp duty U turns,
Stamp duty payments, renovations, decorations,
Market value procrastinations,
The boom is getting boomier,
The bust is getting loomier.
My advice? Lay low, keep you head down, and keep your mouth shut if you are tempted to say anything as (your) life threatening as ‘I told you so’.
11 comments:
You "told them so" in so many different ways by now... yet I guess you're out of danger.
Some of the ripple effects on the economy as a whole deserve close watching. Ireland may be set on a process to "regress to the mean", which would mean -- drifting towards EU levels from its current deviations on both GDP growth and property inflation.
It also remains to be seen what the GDP growth looks like after the fiction of property riches is washed off.
Last but not least, the household debt is too large and some accommodation will be required to avoid a trickle of house reposessions and/or personal bankruptcy.
Yep worth knowing that as the easter islanders realised that the full-employment and
boom times enjoyed building the statues was just an illusion they increasingly turned to cannibilism.
Those openly critical of the islands futile efforts were often the unlucky guests at these cannibal feasts.
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Hi,
I take it that your fellow Easter Islanders have now turned on you. If you are still with us it would be great if you could do an update on the "soft landing" that people are enjoying in Dublin.
- Ronan
I think I might just do that Ronan.
Duplex
Interestingly an important part of life for the Easter Islanders was the "Make Make."
Looks like the Irish now have the "Make Do!"
Hi, Could you please contact me: lynch@lagoon.nc I would be interested in asking you about some stats you used in the blog. - Liam
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I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.
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It's astonishing that these comments from 2008 are so relevant even today. Yes we all went way off our means. Time to re-accomodate our thoughts and pockets too.
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