Sir, – Your Weekend Review suggested 10 ideas for easing Ireland's housing crisis ("No homes to go to", May 24th).
My impression of recent housing trends is that investors are playing a significant part in causing the alarming house price rises in some areas, and at the expense of those simply seeking a roof over their own family’s heads. What appears to be needed is some incentive to make bricks and mortar less attractive for investors and, if at all possible, to direct that apparently burdensome cash to sectors of the economy where investment may provide more beneficial results for our society. To that end, we should increase capital gains tax on non-primary residences and set up forums to introduce potential investors to business innovators and start-ups. – Yours, etc,
PETER NEWPORT
Clochog,
Oranmore,
Co Galway.
Sir, – Labour’s proposal to put the onus to provide new social housing on builders will serve to restrict supply to the open market. It will push up prices for first-time buyers and those who need to trade up – ie, the younger generation. It is not just the reviled developers who will pay.
The economics of this are obvious; yet once again, the fortunate older generation still sitting on massive unrealised gains from the property bubble can sell their houses without capital gains tax or remain in situ paying the same local property tax as those struggling with large mortgages. In many cases these houses are larger than the owners' needs but there is little incentive to trade down.
If Labour is sincere, a building programme for new houses should be funded by those currently befitting from asset price inflation – current house-owners, not would-be buyers. – Yours, etc,
PAUL KEAN,
Long Meadows Apartments,
Conyngham Road,
Dublin 8.
Sir, – Is it now time for the Niall Mellon Trust to recognise our status where housing is concerned? They would save all those airfares to South Africa and we would get basic quality housing in record time. Worth considering? – Yours, etc,
TRIONA FEENEY,
Brewery Road,
Stillorgan,
Co Dublin.