Johnny Mythen (Wexford, Sinn Fein) | Oireachtas source

Housing is one of the greatest problems facing our country today. From Dubai to Toronto to New York and from Canada to Australia, we have lost another generation of young people. They are leaving because they simply cannot afford to buy or rent a home in their own country. Domestically, our young people have lost any hope of ever owning a home of their own. Rents and house prices have increased so much that it is forcing families and individuals to vacate their homes and apartments, usually winding up in a relative's box room or on a friend's sofa. The Government's affordable purchase scheme is not working. Under the Government's scheme, the buyer will not own the home until the full market value is paid, while the State equity can only be paid down in lump sums of €10,000 - a second mortgage. The average home across the State costs €365,000. In some areas, even in the rural parts of my own County Wexford, the prices are reaching the height of city prices.

This is why Sinn Féin has produced its own fully costed plan, A Home of Your Own, to make housing affordable. We are seeing that houses can be delivered at least on the €250,000 mark, with no hidden stealth costs. By the State absorbing the costs of land, site servicing and utility connections and waiving development levies, this is doable. A radical change is needed, as recommended by the Housing Commission and other housing bodies and as said by eminent academics and economists alike. Under Sinn Féin's model, the buyer legally owns the home. The buyer can build or renovate it to their own need and taste. The property can remain as a home for their children and grandchildren if needs be. If the home goes up for sale, the property must go to a future affordable purchaser, guaranteeing the State's investment. This is a win-win situation.

Again, we are calling on the Government to accept that the current housing targets are not being met and that the affordable purchase scheme has failed. Today, people are being squeezed by greedy developers and mega landlords who are buying up estates and increasing rents by the new time. Sinn Féin's plan will work.

Our aim is to give working people the best start in life, which they deserve. We can do this by delivering a growing stock of privately owned, privately traded and permanent affordable homes. I ask all TDs to support this motion.

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