Kevin Humphreys (Labour) | Oireachtas source

I thank the Members of the House who attended the information meeting on Alzheimer's and dementia in the audiovisual room. It is one of the hidden diseases and those affected do not get the support they should get. The simple ask of the group that presented is an additional eight advisers for dementia and Alzheimer's to be connected to the primary care centres. I would like to see the day when we might have an adviser in every primary care centre. This is very important.

I also wish to raise an element of the housing crisis that is not very often raised in this House. I raised this specific issue last week. I refer to the Central Bank's press release yesterday in which it advised young people that they will have to wait for supply. It does not propose to increase the loans they can access but states that supply will solve the problem. This is like the time I raised the issue of Airbnb and short-term lets about two years ago. It was not acknowledged it was a problem. There is a very new problem, certainly in the greater Dublin area, that even where supply is coming online, the apartment blocks are being bought up in their entirety by investment groups such as real estate investment trusts, REITs, and pension funds. Young people who have done everything right - got an education, done their training, saved their 10% deposit - now find they cannot purchase a home in which to start their lives. This is a crying shame and is starting to become what I would call a real problem. It represents the early days of another crisis affecting hard-working young families who want the opportunity to purchase their own homes.

A balance is needed in all this when it comes to professional landlords in order that adequate rental accommodation would be available at affordable prices in our cities. The balance has gone the wrong way, however, and we now see young couples who are trying to start their lives and wish to buy an apartment not getting an opportunity to purchase. They see the apartment block coming up out of the ground and the units being developed and then they read in the newspapers that professional investors have bought out the whole block. This is a real issue and we need the Minister for Housing, Planning and Local Government to discuss it before it gets out of hand. As a political body we let short-term lets get out of hand. Now we are talking about legislation on this before Christmas and implementation in June. If, however, we do not get the supply correct for all the different sectors of the market, we will roll into another crisis. Let us respond, be proactive and ensure a balance within what people are capable of buying. I thank the Cathaoirleach for giving me a little extra time.