The cost of housing is pushing increasing numbers of people towards “pauperisation” and forcing them to cut back on education and food, a conference on public housing has been told., said that the “declining affordability of housing… is not without significant effect” and that people are “getting poorer or spending less on other things” like food and education due to the cost of housing, especially in major urban centres.
“Housing is over-valued, or, if you like, more accurately, over priced.” He called for the government to discontinue the help to buy scheme, which can be worth up to €20,000 to first time buyers, which he said was inflationary. “I would argue it’s simply pushing up the price of new housing.” The conference heard that a “cost rental” model of public housing would help drive improvements in housing affordability. Cost rental is defined as housing where the rent is determined by the cost of providing and maintaining the housing, as opposed to a wider market rent., called for a major expansion of the cost rental model, said that Ireland need a “rental sector that is at much lower cost and is secure”.
He said that in Ireland there was a “huge focus on home ownership and the idea of providing cost rental hasn’t got major buy in, both by people and also by the political system”. At the moment, Mr O’Connor said the focus must be on “how can we make our rental cheaper and more secure, because in a lot of parts of the country there is a huge problem in terms of the level of rent that people have to pay”.
At the end of the day this has an impact on the real economy, as people dont spend hard cash locally. They pay rent to Large scale landlords who flitter the money out of the economy. or just use it to buy up more apartments rinse repeat.
Except FineGael mates and their own extensive pension pots & property portfolios!
It must be global, because housing in the US is the same, too expensive