High costs in the construction sector keep pushing up prices
CLOSE to the top of the lengthy list of Irish delusions is the myth that we are a nation of proud homeowners.
In fact, a third of us rent while just two-thirds live in a home that we, or the banks, own. These days, home ownership here is lower than the European Union average.
In other words, rising rents matter for a great many people but get very little attention amidst all the hullabaloo about house prices. House price gains are generally good for those who own a house (and don't plan to trade-up). But they are always bad for the one in three who rent because rising property prices inevitably push up rents unless you live in a country like the United States or Germany where rent controls are common.