Ireland’s Bad Bank Transforms Debtors Into Landlords

Ireland’s Bad Bank Transforms Debtors Into Landlords

“The residential property market is frozen because of the lack of credit,” said Dermot O’Leary, an economist at Goodbody Stockbrokers in Dublin who expects home prices nationally to drop 14 percent this year and 5 percent in 2013. Photograph: Aidan Crawley/Bloomberg