Foreseeable catastrophe.
It is not the laws of economics that govern Ireland’s housing market. That’s the whole problem.
“A home of your own” amounts to an enormous public works programme in a sector of the economy already boasting full employment.
This proposal will, obviously, never become law.
This policy should have never been adopted, and it should be abandoned.
All of this results in more people chasing fewer properties at a higher price.
Paul Murphy, celebrating, as well he might.
Rent controls and their effects have never been a secret: In every country, and every city, where they have ever been introduced, the impact has been disastrous.
Voters have to take their share of the blame