Oireachtas Joint and Select Committees
Wednesday, 10 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Tom O'Connell:
They were but not at the ... at a senior, at a very senior level. I mean, for example, I used to say to my colleagues, almost every day, we had to have more land zoned. In fact, I used to joke with them and sort of say ... I mean, because the restrictive ... the restriction on housing supply ensured by the restrictive zoning meant that when the demand for housing went up you'd have vertical supply curve, land went up, house, property prices went through the roof. I used to say to the people that you could, you know, zoning should be freed up everywhere bar Stephen's Green, Howth Head and Killiney Head - jokingly, because, you may recollect, I mean ... and, in fact, Jerome Casey, who was a construction sector analyst who wrote about this extensively and he said, he noted that in north County Dublin, the zoned land was owned by eight developers. There was a cartel, if you like. And, in fact, even some of them were intermarried, so-----
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