Mr. David Hall:

There are two parts. To take the last part first, the social housing system, and the evaluation for the social housing system, is dysfunctional. In a sense, it is too rigid and too fixed. All these views and processes are very bureaucratic, as the Deputy knows and has outlined. Anybody who is within the system will know that housing in general, when it comes even to social housing, which the Deputy mentioned, is very tricky. It is not for the faint-hearted. It is designed to fail. It is not designed to be easy. For all Deputies and Senators in the House, and elected representatives the length and breadth of the country, this is now one of their number one issues on a daily basis. A PhD is required to understand how this thing works

I can tell the Deputy categorically. I am running an organisation with €100 million in assets, 510 houses and 1,500 tenants, and every single day is a very big learning experience with regard to how to manage the bureaucracy of this. I do not think that is going to be mastered, but the Deputy's challenge around the investment funds is a very important issue. That is really the dysfunction.

Commercial is not profit. When people mention the word "commercial", they make the natural assumption that it means profit. There is a lack of a commercial approach to housing. What I mean by that is when we are in a crisis and we have a supply issue and some investment portfolio is for sale, logic dictates that somebody along the line, be it the Land Development Agency or the Department of Finance, through an approved housing body purchases that and instantly brings an affordable housing scheme to the market. There does not seem to be that logic and coherence and drive and energy that is required to do what used to be done in the Ford Mondeo, which is someone driving around as a salesperson knocking on doors looking for stuff. Stuff that is on the open market and closed market needs to be protected to ensure that we do not have rents increase and that we protect supply, be that from landlords or institutional landlords. A commercial approach needs to be taken to protect all those who need accommodation.