Housing and auction politics
Sir, – If means of payment increases more rapidly than the total output of houses, the result is increasing house prices. It is irrelevant whether the impetus is a tax break, a help-to-buy grant, or an SSIA-style savings scheme.
Have the politicians making these election promises considered that there are two sides to the equation of money chasing goods, and on the other side, Dublin is only behind London and Zurich as the most expensive city to build in Europe?
I suspect they have and rather than face up to the vested interests that lead to this situation, they decided to give them exactly what they want while dressing it up as something else. – Yours, etc,