How Ireland got into its Property Mess
The second of three segments of the introduction to the 2008 Feasta Annual Lecture in which Richard Douthwaite, an economist and founding member of Feasta, outlines the reasons why the Irish banking system and economy is in such trouble.
In this segment he discusses how the slowing of residential borrowing will effect the money supply, why house prices in Ireland increased significantly in comparison to average income, and how far they may drop.
The full 28 minute long presentation can be viewed http://www.feasta-multimedia.org/2008/Richard_Douthwaite_intro.mov
Feasta, the Foundation for the Economics of Sustainability
http://www.feasta.org
Great explanation!
newculture 2 years ago