England VS Ireland

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As countries around the world continue to dig out of the recession; some are a lot closer to the light then others.

On a recent trip to Paris I spoke with commercial and residential real estate developer David Daly. Daly does business in Ireland and London and says there is a glaring difference between the two governments; the construction industry.

“The English government has taken a different view about construction they've decided that they see construction as being an inherent part of recovery of their economy and they have removed social and affordable housing from their house building programs.”

Daly says that means builders can sell off 100% of inventory instead of just 60.

“They have prioritized the construction industry and in so doing all the related industries like the furniture industry, the carpet industry they are all obviously going to ride on the back of the construction industry.”

Daly says the Irish government is doing the opposite by shutting down the construction industry. As a result Daly says the housing market suffers. It's hard to rebuild with nothing to build.