About 9 months ago I watched a fascinating documentary on RTE1 called “Future Shock Property Crash” – a frank and honest report by an Irish Journalist called Richard Curran, about what he saw as being an impending properly crash – far worse than the “Soft Landing” that the banks were preaching. the cracks in the market were already starting to show, but he predicted that house prices would falling by up to 40% from their height in latest 2006 – and that it would happen very quickly. He also went into detail about the ramifications of this event.
At the time I was contemplating the thought of buying another property – and I think this cemented my initial gut feeling that the risks were just too high and that I’d be better off staying put for the moment. Boy am I glad I didn’t. Continue reading