The Imperatives of The Housing Market

Cunning Hired Knaves

HOMES A range of 1, 2 and 3 lives dedicated to paying them off HOMES
A range of 1, 2 and 3 lives dedicated to paying them off

I had a look this morning at a report from the Economic and Social Research Institute, the independent body that gets paid by the government to do research. The report is titled ‘Bubble, Bubble Toil and Trouble? An Assessment of the Current State of the Irish Housing Market’. (‘With apologies to Mr. William Shakespeare.’ O teh lulz)

I was drawn to the report via a headline in the Irish Times concerning the report ‘ESRI says house prices 27% below real value’. According to the headline, price isn’t an indicator of true value. The true value here, mind you, isn’t the object’s use value as opposed to its exchange value; it’s just the value that the object ought to have if things were different. And things ought to be different, not because I want them to…

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