Stephen Kinsella: Bubble,bubble, toil and trouble

Stephen Kinsella The ‘bubble’ is not coming from credit. It’s coming from cash, investment portfolio choices and lack of supply

Stephen Kinsella
Stephen Kinsella

A property market bubble shouldn’t be able to start without access to lots of credit. But that might be happening in parts of Ireland right now.

A bubble takes place in a market when the price you pay for something is way above a reasonable long run trend. Think about those Elsa dolls we scrambled around for last Christmas. The long run trend of those dolls was, I’m fairly confident in saying, well ...