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Ireland Bulldozes Ghost Estate in Life After Real Estate Bubble - Bloomberg
►http://www.bloomberg.com/news/2012-07-19/ireland-bulldozes-ghost-estate-in-life-after-real-estate-bubble.html
Ireland Bulldozes Ghost Estate in Life After Real Estate Bubble
By Finbarr Flynn - Jul 20, 2012
Ireland is opting for bulldozers rather than bankers as it starts to clear the legacy of the housing boom whose collapse brought the economy to its knees.
Abandoned construction equipment sits outside unfinished homes on a stalled housing development in Longford in April 2012. Photographer: Aidan Crawley/Bloomberg
About 1,850 housing developments, unfinished after the bubble burst in 2008, pockmark the Irish landscape, according to government figures. This week, Ireland’s National Asset Management Agency, the state agency set up in 2009 to purge banks of their most toxic commercial property loans, started the destruction of an apartment block for the first time.
