A Foreign Orgy

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“If you had 30,000 three-bedroom detached houses, you’d sell them all in a week. That’s the pent-up demand that’s there.”

Enda Kenny in New York last week

“If there is to be another orgy of house building in Dublin, it will have to be funded by foreigners. And this explains why the Taoiseach went to such extraordinary lengths to talk up the Dublin housing market while he was in New York.
He hopes, we presume, that some of the international millions flooding into the commercial property market from various hedge and property funds will spill over into speculative house building.
If the hedge funds take the bait, we may well be on the cusp of another house building boom, or at least a significant upswing which would be more welcome. It would be nice to think that we will avoid the corruption, bad planning and poor development which characterised the last one; the consequences of which we will live with for decades. That may be a bit optimistic….”

Planning still a shambles as house building promoted (John McManus, Irish Times)

(Getty)