Ireland: Burning Too Bright

Can Ireland control its rapid growth?

It's one of the hottest investments in Europe. But it's not some high-flying Net stock: It's Dublin real estate, the tonier the better. The market for high-class properties in the Irish capital is smoking, with some prices doubling in the last year. John Appleby, a 38-year-old managing director at Oracle Corp. Ireland, jokes that his house in the fancy Dublin neighborhood of Ballsbridge has appreciated as much as his company's shares.

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