I’m an Adult, Get Me Out of Here on RTÉ Two is the latest reality show from Ireland national television service. It basically brings young broke adults and convinces them its time to get a mortguage. Which is fine, except that Irelands has just started a major correction in the property market. This show would have to have been filmed a few months ago to allow for editing etc. So i’m guess it was done at the very beinging of the year. Since then prices have fallen at least 20-25% and there is a stand off in the market. Property agents have been culling their staff numbers and interest rates are up again.

Maybe what the “professionals” should be saying is go rent for a year and then buy when Ireland cops on that a single person doesn’t need to be earning 100,000 a year to afford a reasonable sized home! Unless your buying repo i can’t think of a worse time to buy residential property (but i wouldn’t even by repo in this market).

In the Irish elections Fianna Fáil get back into power today. Bookies are already paying out since this morning that Bertie Ahern would be back in for a third term. Legendary gambler JP McManus placed a €45,000 bet that Taoiseach Bertie Ahern was a sure thing, netting himself €24,000 in profit at 8/15 odds.