Another Legacy of a Failed and Corrupt Government, well look at the Zappone Fiasco? Martin appears to be Dumb, but he was not so Dumb, in relation to Barry Cowen?

Posted by

Over 450,000 adults still living at home with their parents

 23 hrs ago


Rory Hearne smiling for the camera© Provided by Extra.ie

Close to half a million adults are still living at home with their parents as there are simply not enough properties for them to buy, a leading expert warned.

Rory Hearne, assistant professor in social policy at Maynooth University, said the private sector was simply not delivering enough homes from the country’s booming population.

In a stark assessment of the state of the housing market, he said: ‘450,000 people are living at home as adults with their parents. The majority are between 25 and 35.Rory Hearne wearing glasses: In a stark assessment of the state of the housing market, he said: ‘450,000 people are living at home as adults with their parents. Pic: Niall Carson/PA Wire© Provided by Extra.ie In a stark assessment of the state of the housing market, he said: ‘450,000 people are living at home as adults with their parents. Pic: Niall Carson/PA Wire

‘I calculated we probably need 40,000 affordable homes every year.

‘The private market does not deliver affordable homes.’

His warning yesterday comes as the Institute of Professional Auctioneers and Valuers chief Pat Davitt forecast that current house price inflation of 6.25% will almost double by January.

‘We are on course for increases of around 12% by the end of the year,’ he said.

Currently, a third of private renters are designated to be in ‘unaffordable housing’ because they pay more than 30% of their income in rent – so around 100,000 households would qualify for affordable housing.a person sitting on a couch: Rory Hearne, assistant professor in social policy at Maynooth University, said the private sector was simply not delivering enough homes from the country’s booming population. Picture: Getty© Provided by Extra.ie Rory Hearne, assistant professor in social policy at Maynooth University, said the private sector was simply not delivering enough homes from the country’s booming population. Picture: Getty

Mr Davitt added: ‘We need to focus on affordability and ensure that new house prices are not too expensive for our firsttime buyers.

‘The price of a home is critical to the future financial security and wealth of our younger population,’ he said.

John Moran, the former chairman of the Land Development Agency, also said the country needs 50,000 new homes a year.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s