First video Irish minimum wage .
2nd video Irish unemployment
I had to play the videos three times and the story they tell is compelling even if it is not the story one wants to hear!
The fact is we are just too expensive a country to do business in and with .If these figures are correct and I have no data proving otherwise!
I suspect we will have to expect another two years or more of house deflation to bring affordability
Back to the ordinary average workers wages (in line with the rest of Europe)
Thus bringing average house prices here in Ireland to 60,000 thousand Euros .These videos show me that the Irish Government are in the process of bring down the national average industrial wage let’s say to 25,000 Euro ,the banks will only offer mortgages now of 2.5 times annual wage so this brings the value of the average max mum lone the banks will give to 62,500 Euro .there’s you average house price and that’s where we are heading so if you are in the market for a home I wouldn’t be buying just yet !