The instructor was fortunate enough to be able to travel to Ireland in the summer of 2018. A headline in the Irish Independent newspaper on June 16, 2018 stated, "Increased house supply fails to halt price rise." The story went on to explain that in some parts of the country the price of a new home had risen by 60 percent in the past year, even though many new homes had been constructed. According to the story, these facts "run contrary to the Government insisting that increasing supply would keep price from rising and give working families the opportunity to buy their own homes." Was the Irish government incorrect in saying that increasing the supply of new homes would keep home prices down? If the government was correct, then why did new home prices keep rising even though supply increased?