'Empty nester' sweeteners won't solve housing crisis
So, the latest cunning plan to solve the housing crisis is to get so-called 'empty nesters' to downsize and free up their large family houses for a younger generation. Nama has advised the Government to encourage older parents to sell up and move to smaller homes.
However, the lack of supply means that such a scenario wouldn't suit the seller, as Central Bank mortgage deposit rules have pushed up demand for smaller, more affordable homes, while at the same time demand for pricier, larger homes has actually fallen.
In some circumstances, the offer of a sweetener may well prove attractive for some elderly homeowners to move on.