Oireachtas Joint and Select Committees

Thursday, 16 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Bertie Ahern:

It did. And that is a matter of record. But I don't believe that anything we were trying to do as a Government, other than trying to encourage supply, was wrong. We had to get to ... house prices, or the demand for houses were going up for many reasons; people had more money, people had jobs, the demographics of the country. We were ... we'd only 1.1 million houses at one stage, we got it up to 1.9 million houses. But even at that, pro rataagainst other countries we hadn't got enough of houses. So what happened was too much of it came together. But I don't think we were wrong in the early years, in particular, to try to get up supply.