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Australia and Many Property Markets To Crash Like Ireland?

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Via Max Keiser

Australian, American and British People Need To Learn Lessons from Ireland

‘First Hand View From Ireland’ – Martin North & Eddie Hobbs

Australian financial expert, Martin North discusses the Irish property crash and financial crisis a decade ago with financial writer and adviser Eddie Hobbs.

The interview is excellent and well worth a watch as it considers the important financial, political and most importantly social consequences of housing market and property crashes.

Hobbs was one of the few voices in Ireland, along with David McWilliams, Jill Kerby and ourselves (trading as Gold Investments), who clearly warned of the coming crash in Ireland in 2005 and 2006. Australian and Canadian housing prices in large cities have been falling sharply as have those in London. The Dublin housing market in Ireland and many other housing markets are vulnerable as we have looked at in recent months. Property bubbles in London, Hong Kong, Munich, Toronto, Vancouver, Amsterdam, Stockholm, Paris, San Francisco, Frankfurt, Melbourne, Perth and Sydney appear particularly vulnerable. Financial history rarely repeats but it frequently rhymes … Learn from Ireland’s recent financial history … watch here

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