Sunday 25 February 2018

We need a government with a long-term housing policy for all

First-time buyers need 10pc deposit
First-time buyers need 10pc deposit
Letters to the Editor

Letters to the Editor

As a less-than-amused by-stander, I am appalled with the Government's mishandling of housing in this country.

They appear totally unwilling to interfere with the market and get developers to build. All the while developers on the other side of this Mexican stand-off are not inclined to build unless they get a price they think they "deserve" for their units.

The facts are that a first-time buyer needs at least a 10pc deposit and can borrow 3.5 times income under sensible new Central Bank regulations. But instead of building and pricing houses at prices comparable to what people are earning, the developers seem to want a return to banks lending multiple times the income of people to shell out for overpriced units. Sure we couldn't have decent housing at reasonable prices in Ireland, now could we?

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