Oireachtas Joint and Select Committees
Thursday, 16 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Ciarán Lynch (Cork South Central, Labour) | Oireachtas source
You spoke about your advice centres earlier and I'll give you an experience of mine where I was witnessing single parents on lone parent payments, with maybe family income supplement coming in, and besides the doctor and the nurse we spoke about earlier, the whole intervention of affordable housing had taken place. And, in Cork, at the peak, the affordable housing had gone up to €250,000. That was subsidised housing through the State. And mortgage approval had to be granted through three different institutions. And so somebody who was on a social housing, affordable housing list had to go through this very technical process before they'd even be considered for one of these. Given that people in that type of circumstance were being facilitated through and affordable home programme that was being run where subsidised housing was costing as much as €250,000 back at that date, was that ever a warning sign that there is something maybe very, very difficultly and fundamentally problematic here that would have to be addressed?
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