Cowen urges borrowers to ‘be prudent’ on housing

FINANCE Minister Brian Cowen warned of the need for prudence by borrowers in the context of the booming housing market.

Addressing the annual conference of the Real Estate Alliance, Mr Cowen sounded more cautious than Taoiseach Bertie Ahern, who last week said those who listened to negative commentators on the housing market lost out last year as prices continued to rise.

But look before you leap was the advice of the Finance Minister.