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Eight out of ten millionaires around the world made their first million from a property-based transaction, writes Carol Tallon.

3rd February, 2013
Property is still the most consistent vehicle of achieving wealth.

Earlier this week, it came to light that Irish homeowners withdrew almost €30 billion of equity from their properties during the height of the boom between 2002 to 2009.

The Central Bank confirmed that the sheer extent of this equity withdrawal is well outside of international standards and unprecedented in Ireland's history. It created paper millionaires who have lost more in five years than they gained in the decade before. How did this happen?

Property has always...

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