Irish households exhibit ‘relatively large' wealth effect from housing
A new ‘research technical paper' by two economists at the Central Bank of Ireland finds that Irish households with mortgages exhibit a relatively large wealth effect out of housing when compared with other countries.
The Irish housing market has endured a particularly torrid time since 2008, and the authors of the paper say that Irish mortgages are relatively new and hence "quite vulnerable to emerging difficulties in residential markets".
The paper: Price expectations, distressed mortgage
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