Tuesday 21 November 2017

Editorial: Cheap loans for investors will make housing shortage worse

Some 110,000 homeowners had their mortgage accounts restructured by the end of last September
Some 110,000 homeowners had their mortgage accounts restructured by the end of last September

DUBLIN is a monument to largely unplanned growth and now houses one-third of our population. Houses lie idle and half-finished in 'Dublin suburbs' of Wexford, Cavan, Westmeath and elsewhere. But there is a shortage of suitable family homes within a reasonable distance of the capital where house prices are now swiftly rising again.

It is good to see that a government task-force is currently studying ways of reviving the building industry around Dublin in efforts to meet the pressing need for family-type homes. But the other side of the equation is the lack of mortgage lending to help young families buy a home of their own.

This problem is more acute in the greater Dublin area but it is to be found in many other parts of the country. The shameful reality is that prudent young people cannot get a mortgage.

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