Mick Wallace (Wexford, Independent) | Oireachtas source

The private sector is as problematic as the social sector. There is no rental security for people. We have just seen the Central Bank come up with new mortgage rules - three and a half times one's wages and a 20% deposit. We can see that three and a half times one's wages is a good measure to ensure that people can repay, but what does the 20% deposit mean? How many of our children will be able to afford to get on the home ownership ladder? A great many Irish people will not own homes in future and social housing will have to become the order of the day. It is great that the Government has started to spend some money on it, but it is only scratching the surface. There will have to be a massive investment from the State in this area. The idea that social housing is only for the poor must go. We must build quality social housing with all the necessary surrounding facilities for at least half the people in the years ahead.

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