If a town has 11 billionaires and 10 houses then the houses will presumably be a billion dollars. (That's obviously an oversimplification but you get the drift)
Similarly, Ireland makes it damn near impossible to build anything and started a program to give first time buyers €20,000. New home prices went up by... around €20,000.
I bought a house in Cork city six years ago, paid more than I hoped because it's quite the fixer upper — we've done almost nothing and "the market" suggests that its value has increased about 50% since. Which is meaningless to me but means a lot to many people I know who can no longer afford a buy a home.
This surely cannot be correct. Even the title of the linked article doesn't use "shranked". What?