How Ireland’s property crisis is affecting the real economy

Housing issue is affecting disposable income, mobility, competitiveness and quality of life

House prices nationally have risen  50%  since the trough of 2013, while rents are up over 80%  since 2010

House prices nationally have risen 50% since the trough of 2013, while rents are up over 80% since 2010

In 1980, housing accounted for just 7 per cent of household expenditure in the Republic. By 2016, this had increased to 20 per cent, equating to an estimated €52 billion annually, figures from the Central Statistics Office (CSO) show.

The escalating cost of housing has been a central feature of western economies in recent decades. The problems experienced in Dublin – chronic undersupply, young people priced out of the market, increased rates of homelessness – are remarkably similar to those seen in London, Sydney and San Francisco, for example.

The Irish Times
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