Learning the lessons of bursting bubbles

EVENTS of the past week suggest the obsession with property as an investment vehicle in this country is far from dead.

The distressed property auction held in Dublin’s historic Shelbourne Hotel last Friday week resulted in 82 of the 84 properties being sold, many achieving prices well above the reserves slapped on them.

Those details have been well documented. What’s more worrying is that, on the basis of the evidence to hand, punters out there still regard property as offering good long-term returns.