Vol. 508 No. 1
586 Mr. Gormley asked the Minister for the Environment and Local Government his views on whether there will be a collapse in house prices similar to London, Boston and Los Angeles in the 1980s; and if he will make a statement on the matter. [18545/99]
The measures taken by the Government to remove overheating and ensure balance in the housing market are helping to achieve house price stabilisation without the occurrence of instability in the market. Moreover, there is a wide consensus among commentators that the current and prospective economic circumstances in Ireland are such as to make a collapse in house prices on the lines suggested by the Deputy an extremely unlikely occurrence.
