Has Irish property fallen too far?
A recently-published academic paper on house prices, written by two Central Bank economists, has renewed debate about the market, writes Richard Curran.
An academic paper written by two Central Bank economists on house prices was greeted with a mixture of elation and scepticism last week.
The paper, Why Are Irish House Prices Still Falling?, suggested that the over-correction in property prices here had been significant, and had led to properties currently being undervalued by between 12 and 26 per cent.
Many in the property industry saw it as an opportunity to get a positive message out that now may...
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