First Time Buyer writes:
Are developers our equivalent to [oil producer cartel] OPEC, hoarding land and keeping output to a minimum in order to drive up prices and their profits?
They are holding out in the hope that the next Government will reduce taxes and levies or put pressure on the Central Bank to relax its mortgage lending rules.
The result is that buyers are being forced to seek housing beyond the city and reviving the uunsustainable boom-era practice of long-distance commuting.
The evidence; asking prices are dropping in Dublin but increasing in the rest of the country.