The Central Bank's new deputy governor delivers stark warning over the effects of crash
HOUSE prices could take decades to recover from the property crash even if the economy starts growing, the new deputy governor of the Central Bank of Ireland warned last night.
Experience of booms and property crashes in other countries suggests the economic recovery here will be slow and house prices will recover even more slowly, he said.Central Bank deputy head Stefan Gerlach made the comments at a conference on housing markets and financial stability at NUI Galway.
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