A newly published report <[broken link removed]> by Australia's Urban Research Program examines the spatial vulnerability of Australian urban areas to fuel price and mortgage interest rate rises.
It is obvious that Ireland is just as susceptible to rising fuel prices and mortgage interest rates given our poor urban planning, lack of adequate public transport and resultant car dependency. Rising fuel prices and interest rate rises are inextricably linked through inflation and the predicted peaking of world oil production in the very near future will mean that inflation will become difficult to curb and economic growth could suffer with the very real possibility that the spectre of stagflation could return.
In light of such a potential scenario how are today's property prices either (a) sustainable or (b) justifiable?