Lender · Salt Lake City, UT · Member since 2012 · 714 posts · 169 votes
A recent article from Curbed.com about the “ghost towns” in Ireland, gave me a chilly reminder about the craziness of speculative real estate bubbles. The ghost towns in Ireland refer to the thousands of homes that were built during the real estate bubble, that have never been lived in or even completed. In fact, photographer Valérie Anex published a photo series titled, “Ghost Estates,” which documents the horror of the overbuilding that took place in Ireland prior to the crash. Some of the photos taken by Anex of these ghost towns can be viewed on Curbed.com. Take a few minutes today to look at some of the photos of these “ghost towns” in Ireland. For me, it was a grim and sad reminder about how speculation can lead to insanity.
Specialist · Las Vegas, NV · Member since 2013 · 639 posts · 176 votes
12y
Nice post, @Corey Dutton Having worked and lived through all of that sh1t, I can tell you this is all the thin end of the wedge as far as the Irish property crash goes.
Not only did the Irish RE market and entire economy collapse completely, several years on, Irish politicians are still playing games with it and most of the foreclosure issues have not been addressed.
They're pretty much still in the process of bleeding out the taxpayers.
FYI, not one of my entire Irish RE network survived the crash.
As Forrest Gump would say: "And that's all I've got to say about that".