The share of 25-34 year olds who own their own home halved between 2004 and 2019. They simply don’t have the income. Photograph: Frank MillerSince I was an infant, all Irish economic crises have been home grown: the result of weak local management, poor policy and an unwillingness to face down local vested interests. A rentier class, living off the labours of others, comprise most of those vested interests.
Since the 1980s we have experienced two major economic crises that came with the distinct “Made in Ireland” brand. We lost an entire decade, 1977-1987, because the political class could not run the shop with care. In Garret FitzGerald we had a leader who spoke the language of financial probity but ran the place like Juan Peron.
If people are getting rich by doing nothing, and watching house prices rise, this is problematic for a society because it rewards hoarding rather than producing Today, a brilliantly innovative economy, maybe one of the most dynamic in the western world, risks being undermined by another local failure: Ireland’s inability to provide accommodation for its people at a reasonable price. This is a policy failure in which many of us are complicit.
This may seem counterintuitive but let’s start by looking at the wealth statistics published by the Central Bank this week. The data show that Irish people’s wealth is rising. Surely, you might ask, evidence of becoming wealthier is a good thing? Yes and no. If we are becoming richer because we are producing more products for sale, being more innovative and generating more revenue, with new or existing companies winning in competitive markets, that is good wealth.
Really?
The Irish Times are complicit in this plantation and genocide. And they know they are.
This housing crisis is/was government policy since the troika. Every move at that time from NAMA on was designed to repair balance sheets through property price inflation. Sinn Féin have exploited the issue by blocking development in the last 5 years and are far from blameless
Low corporate tax rate sucked in record jobs and immigrants. Housing prices went sky high. Massive housing shortages developed. Quality of life plunged. So … boost the corporate tax rate, cut off job growth. Ireland
But Ireland is among the cheapest property markets in the world, price to income average
A great analogy times in fairness and correct. Ireland is rotting from the inside out.its now built for the well off and nobody else. If a booming economy means most people suffer then fuck the economy.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: IrishTimes - 🏆 3. / 98 Read more »
Source: IrishTimesBiz - 🏆 6. / 77 Read more »