Oireachtas Joint and Select Committees
Thursday, 26 March 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Joe Higgins (Dublin West, Socialist Party) | Oireachtas source
Our inquiry research team has shown on hard data that between 1996 and 2006, the price of an ordinary home increased each year for ten years by the equivalent of the average industrial wage. By common consent there was rampant profiteering in the housing market and in speculation on building land. Did Mr. O'Regan ever launch a project of investigative journalism to uncover the rampant profiteering in the housing industry, in land speculation, and how that would affect young people buying homes using 40-year mortgages and paying unsustainable levels of mortgage repayments?
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