Moody’s Says Irish Home Prices to Fall 20% More; Total Drop 60%

Irish home prices will fall a further 20 percent, taking the total drop to 60 percent from their 2007 peak, Moody’s Investors Service said.

“It will be difficult for distressed borrowers to significantly increase their debt servicing capabilities and so arrears are likely to continue increasing,” Moody’s said in an analysis of Irish Prime RMBS performance.

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