Irish Central Bank Sees 60% House-Price Drop in Adverse Case
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Ireland’s central bank estimates house prices may fall 60 percent from their peak in 2007, under an “adverse” scenario underpinning stress tests of the country’s debt-laden lenders.
Home values may fall 17.4 percent this year and 18.8 percent in 2012 under the scenario, the central bank in Dublin said in a report today. Gross domestic product is seen falling