Oireachtas Joint and Select Committees

Thursday, 3 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

-----this stuff as well. So, could I put it to you, Mr. Went, that, as a proposition and to get your thoughts on it, that during the 2000s right up to the property crash, as indicated on the slides that I showed, house prices were escalating at an unprecedented level year-on-year? Average industrial wage, as Deputy Higgins would also ... that the average house price was increasing by the average industrial wage year on year. And, in these circumstances, regular and even above regular income earners should have been priced out of the market earlier in the decade because the house prices were going up.

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