A picturesque cottage on the coast road in Dalkey, near Dubl

IRELAND - AUGUST 15: A picturesque cottage on the coast road in Dalkey, near Dublin, Ireland, Tuesday, August 15, 2006. In Ireland, where almost eight in 10 dwellings are owner-occupied, the frenzy for property is forcing many buyers to scrimp after prices quadrupled in a decade. The Irish central bank is warning about a potential collapse as interest rates rise, pushing debt costs higher. That may leave western Europe's fastest-growing economy vulnerable to a slowdown. (Photo by Sean Dwyer/Bloomberg via Getty Images)