Vested interests and all that, Nama being the largest one. Although strange as it might seem, we all have a vested interest in property prices given that we own some banks these days.
It is kind of strange that for the good of the country, house prices should drop. Lower housing prices mean lower costs of living giving people more disposable income which should mostly flush back into the economy.
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It is kind of strange that for the good of the country, house prices should rise. Higher housing prices mean we increase less of a hit on the banks, both in their existing debt via Nama and via the upcoming debt on their deleveraging targets. This means less taxes giving people more disposable income which should mostly flush back into the economy.