Paul Bradford (Fine Gael)

I am not an expert on the subject of groupthink.

We certainly had groupthink in this country for a decade on the question of property prices and the development of an economy based on a property boom. We must acknowledge our current economic difficulty was caused by the property splurge.

I raised this the House a couple of weeks of ago that once again we seem to be wishing a new property boom upon ourselves. I have no difficulty with NAMA's decision yesterday to offload some properties but certain media groups have recently been writing that property prices are increasing again, as if that is automatically a good thing. The purpose of a house should be to provide a home for a family and housing estates should be places where families and individuals live, not investment vehicles for other persons. We need a debate with the Minister of State responsible for housing so we can chart the future of the property market in this country. If we believe repeating the mistakes of the last decade, and seeing property prices inflating will return the economy to growth, we are making a grave mistake. I urge caution regarding the welcome for increased property prices. We should hope property prices will be at a level where families can afford to buy houses and homes. It would be helpful if the Minister of State, who has shown her capability since she took responsibility for the housing portfolio, should report progress on her ideas on the property market and housing in general.