Housing crisis risks economic growth, warns business leader

Ireland’s housing crisis is beginning to restrict the country’s economic growth, as multinational firms struggle to convince staff to take up jobs in professional services here, a senior business leader has warned.

Michael McAteer, the managing partner of Grant Thornton Ireland, said that up to 30 per cent of the international recruits that his firm offered contracts to last year turned down the job due to the housing shortage. “We continue to offer positions to people who accept them. But when they go and research the market to come and live here, we’re probably getting a 25 to 30 per cent cancellation rate,” McAteer told the Business Post.

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Housing crisis risks economic growth, warns business leaderIreland’s housing crisis is beginning to restrict the country’s economic growth, as multinational firms struggle to convince staff to take up jobs in professional services here, a senior business leader has warned. We're reaping what we've sown in this regard. From first-hand experience I can tell you that a lot of ex-pats here would gladly leave because the price : value equation is skewed here. Why work hard for big bucks if you cannot afford a nice apartment to live in, etc? Hey waky wakey Sunday Business Post but that has been going on for quite some time now it is just getting worse.
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