Oireachtas Joint and Select Committees

Thursday, 16 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Bertie Ahern:

No, I'd have to say the ... I was always concerned that, as we chased supply ... and all our efforts were to try to deal and build enough houses to deal with the demand that was there, that was the right thing to be doing ... supply. When it went over that figure, I was concerned. Like, when we went to 65,000 - whatever it went, 65,000, 77,000, and 88,000; I think they were the three years - I was very concerned about that because I couldn't understand why the sustainable level that all these reports had been telling me for years would have been between 50,000 and 60,000. Now, I did discuss that and I remember being told that I didn't factor in the supply side correctly, because between 2004 and 2006 the population went up 300,000. So if you factored in that, the 55,000 would go up. And that was a credible enough answer, in fairness.