We are clearly in the middle of both a homelessness crisis and a housing crisis. 

We are told that the government is doing plenty to fix things, but that feels about as re-assuring as Bertie Ahern's talk of soft landings back in 2006 during the last boom. 

The crisis is being seen in many ways from Apollo House through to student accommodation and lack of family homes, and of course, extortionate rental prices. 

It touches all walks of society. 

During all booms there is always a moment when reality is abandoned and the market behaves with irrational exuberance. We've reached that moment and nothing shows that more than a selection of cottages for sale on Daft at the half million Euro mark. 

Not houses, not villas, not penthouses – cottages.

Howth Cottage - €465,000

It is one of the nicest areas of Dublin but your money will only get you a modest cottage nestled among all the mansions in Howth.

Booterstown Cottage - €519,950

You'll have great access to town with the DART and main roads on your doorstep but you'll be shelling out well over half a million for this cottage. 

Donnybrook Cottage - €450,000

You'll have another great location not far from town but imagine paying close to half a million Euros and the front of your house barely being wider than a car. 

Now if people want to buy and sell cottages for half a mil then who am I to say otherwise. These things are determined by market forces. 

The half million Euro cottage is just a signal of the market detaching itself from reality and that's a massive worry.

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