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The house price horror show - With Vinjeru Mkandawire

The David McWilliams Podcast

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If Irish house prices and land prices collapse, if certain developers go to the wall, there is now a surplus of plumbers, tradesmen, electrician, builders, bricklayers. That's the time you buy up everything. You borrow on the international markets and you buy up every single piece of housing assets. What building does then is a increase the supply of housing, but be it actually boosts the economy because basically the business cycle is the housing cycle. So there is a always silver lining here. If we are going into the type of downturn, the vinjuru articulated, if we are going to make these mistakes, this is now the time for the state not to intervene

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