Earlier quoted context omitted.
Household wealth inequality has also fallen significantly in Ireland. Longer term statistics are more difficult to find compared to income inequality but see Chart 3 here - https://www.centralbank.ie/statistics/statistical-publicatio... - provides a 12 year time series which proves this. Irish property prices are and have risen considerably - but "600%", I think, is a somewhat dramatic way to present the increases -…
The source I linked shows the Ireland housing index going from around 33 in 1995 to over 180 in 2025. That's an over 6x real return, which equates to a rate of return of over 6.5% after inflation . Looking at the CEIC data you linked, which is not inflation-adjusted, it shows household income increasing from just under $20k in 2003 to around $40k in 2023. Plugging that into the CAGR formula you get a 3.5% nominal ann…
Your graph comes from BIS data - picking 1995 as starting point is a little unfair as that's exactly when house prices started to rise - if I measure from 1990, the rise (using BIS nominal nominal to make comparison easier) is 5.1% per annum.
But yes house prices have risen faster than household incomes. Like pretty much everywhere else in the world.
> And your other link makes it clear that the change in wealth distribution is really just a side effect of the housing bubble
The claim I was contesting was that wealth inequality had increased in the last few decades. It has not - it has decreased significantly.