And it looks like negative equity is here for some time. According to the Economic and Social Research Institute (ESRI), those who bought a house in 2003 will have to wait another four years before they move out of negative equity, while those who bought close to the peak in 2007 will have to wait until 2030.link
Friday, 26 June 2009
Negative Equity in Ireland
It's pretty bad here, but I didn't realise this bad.