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The ghost estates of luxury homes that show exactly why Ireland went from boom to bust

By Implode-Explode Heavy Industries

"When Ireland's economy was roaring ahead in 2006, some 93,419 new houses were built as the country sought to exploit the booming market. The building didn't stop, but the good times have. Indebted Ireland faces a grim future with its banks on the brink, vicious public sector cutbacks kicking in, unemployment on the rise and soup kitchens opening in the centre of Dublin. And developers, who dived headlong into the property market with interest rates held low by membership of the euro, are hurting more than most."

Full post as published by Mortgage Lender Implode-o-Meter on November 20, 2010 (boomark / email).