Sign outside a housing estate in Ballyforan, Co. Roscommon last week.
The outlook for the Irish economy is very gloomy. According to the Royal Institute of Chartered Surveyors, Irish property prices are the “worst in the world“. The bank PermanentTSB issue a quarterly report on house prices and the figures show a more-or-less steady decline in prices since last the summer of 2007. According to their last report, the current average price [well, in June 2008] of a house outside Dublin is €236,600 euro. And falling.