Are we heading for another housing-led boom?

For house prices the only way right now seems to be up. According to the latest report from the Economic and Social Research Institute the Irish market still appears to be undervalued. While the upward trend is partly down to natural correction much of it is down to poor supply, especially in and around Dublin. The ESRI says there is no suggestion that we are heading for another boom. They also say that they do not see rapidly rising house prices as a good or healthy sign. “As the economy continues to emerge from the recent recession, keeping key cost of living factors affordable, such as housing, is imperative as the economy seeks to maintain the competitiveness advantage that has been gained in recent times.” Of course there is nothing to stop an Irish government from screwing up again. http://www.thejournal.ie/house-prices-irish-market-esri-1606629-Aug2014/