Noel Ahern (Dublin North West, Fianna Fail)

House prices entered another cycle of increases during the year because of three factors. There are 90,000 extra people working in the economy, 70,000 extra have entered the State and some financial institutions have an overly generous approach. Credit is by definition inflationary. It is not just 100% mortgages; there are interest-only mortgages and terms of 35 and 40 years. Some people are even talking about inter-generational mortgages.

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