Thursday, May 8, 2008

Ireland and the UK is feeling the fallout from the mortgage mess in the US

I just returned from a trip to Ireland. I live in Arizona and coming from the desert I was in for a real shock. It just wasn't the weather or all the greenery. One thing I noticed from city to city was the amount of real estate for sale signs everywhere. This was even the case in the Isle of Man where I saw tons of Chrystals signs all over. There were Sherry Fitzgerald signs on every corner in Ireland. Sherry Fitzgerald is one of the biggest real estate companies in Ireland. I was told that Ireland is always six months behind of whatever the United States is doing. If this is the case they are in for a bumpy ride. I know that in Arizona this is still a huge inventory that needs to be dealt with before the market can turn around here.

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