Irish Examiner view: How will homeless fare after 'painful correction'?

House prices overvalued by 8% to 10% ESRI warns 

Media reports from 2010 suggest the number of homeless people in Ireland at that point was approximately 5,000; now it is three times that number.

There was a grim sense of deja vu for many readers in Thurday’s headlines, as media outlets paid close attention to a sharp warning from the Economic and Social Research Institute (ESRI) about the Irish housing market.

In short, ESRI Professor Kieran McQuinn said Irish property prices are currently overvalued in the region of 8% to 10%, adding: “Overvaluation does bring dangers, and the larger the degree of overvaluation, the greater the risk of a significant correction in the housing market at some stage.”