Do soaring house prices in Ireland really make us wealthy?
Smart Money: The Irish model of wealth generation is tied up in boom-and-bust Irish house prices
The volatile nature of Ireland’s housing market is cause for caution
Are you feeling rich? New Central Bank figures this week showed Irish household wealth is, in total, higher than ever before. But this is yet another reflection of the property boom-and-bust cycle.
Your house is an asset – and so as its price goes up so does your wealth. But what are we worth now on this measure ? And do soaring house prices really make us wealthy?