Carol Nolan (Laois-Offaly, Independent) | Oireachtas source

I am happy to have an opportunity to speak on this very important issue. We know that people are struggling, in particular working families, and finding it very hard to make ends meet. I have no intention of engaging in a game whereby any or all private investment in the housing market is automatically a bad thing, because I do not feel that is the case. That is an absurd position to adopt. What I will say, however, is that like in so many areas, it is a matter of proportion and balance. For example, we should be rewarding and helping the small contractor and the local builder who want to tender for contracts with a local authority so that they can provide homes for their communities and build up their workforce, thereby offering much valuable local employment. That is an issue we must get to grips with: how we allow the small contractor who can provide work and who can build houses to effectively tender for State contracts. These people have their roots in communities, and they have something valuable to offer in terms of the local economy and much-needed employment.

It is evident that there is a major power imbalance. Unfortunately, all the power is on one side. In many ways, the large institutional investors have us over a barrel. They know we have a housing crisis. The State is slow to build and so they come in offering manna from heaven in the form of much needed homes, but then the prices are simply put of the reach of so many potential homeowners, young couples and ordinary workers. We must address the distortion, in particular in the rental and property markets, which, as the motion says, is to the determinant of workers, families and struggling home buyers.

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