Social justice - A tale of two Irelands — rich and poor

TWO faces of Ireland were glimpsed yesterday in contrasting statements from opposite ends of the economic spectrum.

In a pen picture of the importance of the construction industry, which has been the engine room of the economy for some time, leading economist Austin Hughes observed that the housing market is experiencing a softening process.

But IIB Bank’s chief economist stresses that ‘hard’ statistics suggest this is only a “marginal slowdown from an exceptionally rapid pace of increase”. As he sees it, the recent easing in prices testifies more to a surge in supply rather than a softening in demand.