Ireland remains especially exposed to another financial shock because of the extremely high levels of public and private debt, the open nature of the economy, and Brexit, Irish Central Bank Governor Philip Lane has warned in a pre-budget letter to Minister for Finance, Michael Noonan.
“Ireland is especially exposed due to the legacy of high public and private debt levels, the sensitivity of small, highly-open economies to international shocks and Brexit-related vulnerabilities,” Ireland’s Central Bank Governor said.
The housing market has roared back to life in the past few years. Times are once again good for big homebuilders such as Lennar () and KB Home ( ), which both reported solid earnings reports earlier this month.Other companies with strong ties to the housing market are doing extremely well too.
In case you forgot what happened to the housing market and economy shortly after that, the chart should serve as a painful reminder. Continue reading