Wednesday 28 June 2017

Delicate balance - but real people will benefit

The reasonable expectation is that the improvement in the economy, and more realistic deposit rates, should help defrost a frigid market. Stock picture
The reasonable expectation is that the improvement in the economy, and more realistic deposit rates, should help defrost a frigid market. Stock picture
Editorial

Editorial

Too many hoping to have a roof over their heads have felt trapped between the immovable object and the irresistible force.

The Central Bank had vowed "never again" after the property crash. Irish banks could not explode in another bubble. A series of stringent, possibly suffocating, controls were imposed. But buyers were also locked out of the market, and builders couldn't build.

The banks might be safe, but a huge cohort of the population felt cheated out of owning a home. If that was not bad enough, the chronic shortage of houses was driving up rents. Not only was it impossible to own a house, to even rent one was now beyond reach. All this should be seen in a context where two families a day are now being left homeless in Dublin.

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