Mick Wallace (Wexford, Independent) | Oireachtas source

I also support the Bill. We have an uncontrolled rental sector and it will stay uncontrollable until there is proper legislation around the rental market. The Government insists this is linked to the housing crisis and it is certainly a major factor. What are we doing about the housing crisis? It is amazing that the problems we have with the housing crisis and rental market have been with us for so long and yet we still have them because of inaction. One of the main reasons for inaction is because the tendency on the Government side to let the markets at it is too strong.

The Government now argues that this is all about encouraging supply. It has introduced a first-time buyers' grant and prices will be driven up. The Central Bank was made to cut the 20% level for deposits to 10% but that is 10% of what? Properties are unaffordable. This is not necessarily the right way to get builders building. People are forever confusing the developer and the builder but they are two different entities.

The developers feel there is not enough gain in it for them to be building. The Government's failure to do anything about landbanking encourages and incentivises developers to continue to sit on landbanks. Builders, who are different entities, cannot access money. The Government could play a role in all of this by organising for builders to be able to access money. They are not looking to make a profit of €40,000 per unit. They would be happy with €5,000. Builders are not the guys with the money. For the life of me, I do not understand why the Government is not organising the local authorities to build social and affordable housing on land owned by the people. The notion of NAMA building on land owned by the people and selling those properties for €330,000, which most people in Ireland who need a house cannot afford, does not make any sense.

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