Madam, - Ken Keller (March 14th) asks which form of madness is driving the property market in this country.
The housing market is clearly in the middle of a "bubble". One can look back in history and find any number of times where people of the age have asked, "How is this possible?". The Tulip Bubble of 1636 in Amsterdam, the South Seas Company bubble of 1720 and even the modern day NASDAQ, bubble which burst in 2000.
Market bubbles tend to last much longer than the participants initially assume, but they tend to be extremely painful for all concerned once they burst. - Yours, etc.,
TROY LAVIN, Brewery Road, Blackrock, Co Dublin.