Ireland was one of the EU success stories, with unrivaled growth bringing a new prosperity to the country. The new found wealth followed the well trodden path of Brit’s global property speculation (Spain, Dubai, Florida). But one thing that is very unlikely, is that prices of ordinary homes were ever on a par with Beverly Hills. Sorry I just don’t buy that (no pun intended). That rates were very low and prices went through the roof, is not in dispute. That Brits, or the Irish drool over California prices is also an exaggeration. For a start it is not their hunting ground. It may have sparked a bit of interest when the dollar was so weak, but it still didn’t make up for the very over-inflated prices. People like to brag (especially to Americans) about how much more expensive their city, or country is because it makes them look richer. The truth is Europeans don’t have the disposable income that Americans do, and went (are going) through the same speculative real estate crisis, but the party is well over. If you want a comparison with California prices, look to London a global financial center, with big bonuses and an international mix of residents.
