Future Shock: Property Crash
In a special programme, RTÉ Television examines whether Ireland's property bubble is about to burst. In Future Shock: Property Crash, journalist Richard Curran assesses the chances of a significant readjustment to Irish property prices, and asks who will feel the most pain if the market does crash?
As the first cracks start to appear in the Irish property market, are we headed for a 'soft landing' or are we facing into the beginning of a more significant slide in values. In short, are we facing a crash?
Examining the underlying realities of current trends, presenter Richard Curran asks if a predicted growth of 3% nationally for 2007 masks a more worrying situation? Looking into the future, he asks could a property crash happen in Ireland and, if it did, who would be most affected?
Exploring the external and internal factors that could cause a significant drop in values in Ireland, Futureshock: Property Crash looks at the sliding dollar and a downsizing construction industry, as well as at increasingly negative sentiments in the market place.
Painting a compelling picture of where the Irish property market is at, Richard Curran questions the role of banks and other institutions in predicting a potential collapse. Have our institutions behaved responsibly towards exposed groups such as first time buyers, for example?
In order to answer these questions, Curran brings us through some of the other property crashes that Irish emigrants have been caught up in, including the big crash in Britain in the 1980s.
Richard Curran is Deputy Editor of the Sunday Business Post. Previously Richard was business editor of the Irish Independent, business correspondent for RTÉ News and asstistant editor of The Sunday Tribune.