What lessons should Ireland take from its early-2000s bubble and crash? Having gone through, by any reasonable metric, one of the world’s most severe national housing cycles, this would be a good question regardless of how the housing system is now. There are general lessons that we can take from the Celtic Tiger experience. But there are also specific lessons particularly pertinent right now, given the extreme shortage of housing Ireland faces at the dawn of the 2020s. Perhaps the single most important lesson of the Celtic Tiger bubble/crash – one that would be true with or without a shortage…

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