Opinion: The last thing this housing market needs is a subsidy for developers

  • 📰 thejournal_ie
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 50%

United States News News

United States United States Latest News,United States United States Headlines

The Social Democrats are asking the government to scrap the subsidy for developers – Cian O’Callaghan explains why.

Cian O'Callaghan Social Democrats TD Dublin Bay North WE ALL KNOW that this government is a big fan of supporting developers – but I have to confess to being surprised by the extent of the generosity they are showing to their favourite demographic in their latest policy wheeze.

Meanwhile, buyers desperate for a property will be rewarded by having to fork out for an overpriced apartment in the knowledge that their own government has diligently worked to keep prices, and their mortgages, artificially high. The scheme is such bad value, and so bizarre, that I decided to ask the Taoiseach a few questions about it in the Dáil.

Why did people need to “get real”? According to Mr Kelly, apartment sizes had to be cut to make it profitable for developers because there was “no point in having standards in place if nobody is going to build them”. However, Mr Kelly promised that his changes would make apartment building affordable for purchasers. We all know how that turned out. Related Reads 12.05.22 Varadkar: 'Far too many people have to spend too much of their income on rent' 12.05.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 32. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

There has to be a subsidy, how else will developers be able to build all the accommodation to house welfareEmigrants?

no reason irish construction shouldn’t thrive, and we should be building as many houses as humanly possible. the problem is who the houses are being sold to

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Central Bank says more needs to be done to help customers as banks exit Irish marketThe exit of KBC and Ulster Bank will whittle Ireland’s number of retail banks from five down to just three.
Source: thejournal_ie - 🏆 32. / 50 Read more »