Oireachtas Joint and Select Committees

Wednesday, 22 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Michael O'Flynn:

Never implemented, that's ... that's what I should have said. But, Deputy, to ... to answer your question, I'm not speaking for land speculation. Land speculation ... or spiralling land prices is bad for people in my business. It's ... we are people who build houses. We have built hundreds - 400 to 500 houses a year on the peak - we've been building houses since 1978. We employ lots of people directly to do that and hopefully we will be back building houses again. The problem, Deputy, is that we can't build houses unless we can build affordable houses. We don't have enough land zoned in the right places, we ... the ... we don't have enough infrastructure for that land. And, I could speak very much about Cork as a region. I mean, we have huge challenges to put an affordable model ... and I'm not in disagreement with you, I'm not speaking for any land speculators. Because I'm buying land to build houses to sell; the more I pay for the land the more that my business isn't going to work. So, I'm not-----

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