Seanad debates

Wednesday, 10 December 2003

Report on Dublin and Monaghan Bombings: Motion. - Local Authority Funding: Motion.

 

There is a worrying increase in the price of housing. One need only look at Thursday's property supplement in The Irish Times and see the "Five At" column. For €500,000 one can get a converted lavatory with a corrugated tin roof on the North Circular Road in Dublin, a villa in Florida or an estancia in South America. If this bubble bursts people will have negative equity and houses will be repossessed. Controlling the price of houses and the rate of increase is important and in everybody's interest because those who already have equity in housing may find their inflated equity destroyed when the bubble bursts. This is something to be looked at with a great deal of care.

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