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Ireland: Even worse recession ahead’ if property market is not stabilised

Posted on 09 January 2012

Economist Peter Bacon has warned that Ireland faces a recession “more protracted and more severe than the one we are already in” if the Government fails to intervene in, and bring stability to, the property market.

“The market went to dizzying heights and now it’s going to dizzying lows,” Mr Bacon told the Sunday Independent, as he described how property prices were now being driven down by speculative forces in much the same way they had been driven upwards in the boom years………………………………………Full Article: Source


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