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Perhaps in the land of Ire owning land is a laughable pursuit.
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It has become a laughable pursuit in the past few years with idiots thinking they were actually making real money on their homes and others falling for crazy property investment schemes.
Personally I don't intend to buy any more land or property until 2011 as it should have completely bottomed by then, though I was very tempted when a big old house in Waterside came up for auction last month.
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In America real estate has been the the safest investment since before the great depression.
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Real estate is always a gamble no matter what country it is in or what government you live with.