Saturday February 22, 2020

The madness of crowds

The folk history of the property crash holds that the Irish people have a tragic lust for the security of land ownership because our ancestors were repressed by absentee landlords – but the experts have a different explanation

13th March, 2015
In global terms, the herd mentality the Irish displayed in respect to buying property was not unique – but the market’s subsequent crash was Picture: Getty

As a nation, Ireland tends to perceive itself as obsessed with the real-estate market. In reality, comparative European Union home ownership statistics prove that we’re not. By constantly chattering about the subject, perhaps we’ve talked ourselves into believing we’re property-preoccupied.

For all the babble, we still bought ourselves into a bubble. And in many cases, having spent over the odds, many of us still don’t live in the right...

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