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On the likely extent of falls in Irish house prices
Author(s)
Date Issued
2007
Date Available
2009-02-27T14:53:04Z
Abstract
Looking at house price cycles across the OECD since 1970, we find a strong relationship between the size of the initial rise in price and its subsequent fall. Were this relationship to hold for Ireland, it would predict falls of real house prices of 40 to 60 per cent over a period of 8 to 9 years. The unusually large size of the Irish house building industry suggest that any significant house price fall that does occur could impose a difficult adjustment on the economy.
Type of Material
Journal Article
Publisher
Economic and Social Research Institute
Journal
Quarterly Economic Commentary
Issue
Summer 2007
Start Page
42
End Page
55
Copyright (Published Version)
Copyright held by the ERSI
Subject – LCSH
Housing--Prices--Ireland
Ireland--Economic conditions
Regression analysis
Language
English
Status of Item
Peer reviewed
ISSN
03767191
This item is made available under a Creative Commons License
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