Tuesday 25 October 2016

Still waiting to get our house in order

Published 24/08/2015 | 02:30

Alan Kelly
Alan Kelly

Without any significant public debate, a whole generation appears to have been disenfranchised from the prospect of owning their own home.

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It would be wrong to lay the blame entirely on the Government for this, but it is incumbent on it to find some answers.

We read today how young couples prioritise having a child before negotiating the perilous prospect of getting on the property ladder.

It is understood that Environment Minister Alan Kelly has a plan, and that significant spending will help address the shortage of new homes.

But there are also significant obstacles to getting finance. The 20pc deposit requirement is a massive impediment. Making it hard to own a home is bad enough, but rocketing rents are making it equally difficult to even rent one.

Builders won’t build because it’s not profitable, and banks don’t want to lend unless there is total job security. More people on contracts makes the situation impossible. We have the land, we have the labour, we own large chunks of the banks, so the Government must get proactive.

Irish Independent

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