Madam, - There has been much made of the continuing rise in house prices forecast by Dan McLaughlin of the Bank of Ireland (The Irish Times, August 27th).
People should treat these predictions with caution.
There is very little real debate on house prices apart from the commentary put forward from banks and auctioneers, which have a worrying dependency on prices rising indefinitely. Economic conditions have changed dramatically in the last few years and it would be foolish to ignore the potential for an end to the housing boom.
As the joke goes, economists are there to make weather forecasters look good. - Yours, etc.,
READ MORE
JOHN McGARRY,
Pembroke Cottages,
Donnybrook,
Dublin 4.