Financial Channel

Hi all.
Had a conversation with a mate recently which gave rise to the question..
Was the Irish property market effected in anyway as a result of the 9 11 terrorist attacks in the U.S.

Simple as that :)

Thanks

Indirectly and hugely. In response to 9/11 and the start of a recession following the tech bubble collapse, Central Banks worldwide slashed interest rates - to 1% in the US. This appears to have caused a worldwide bubble in property prices which is only now deflating following the actions of Central Banks to reverse the low interest rates.