The asking price for a house in Ireland has risen by around four per cent in the past year.
The contrast between those who cannot afford to buy a home and those who benefit from an increase in the value of their asset is at the heart of a debate that may play a major role in the next general election.
Last month, Sinn Fein leader Mary Lou McDonald said the average price of a home in Dublin should be €300,000 - that’s €130,000 lower than the average Dublin house price as things stand. Such a steep fall in price would help many, while making others poorer on paper.
Would it be possible to reduce house prices by so much without causing serious collateral damage?
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Bernice Harrison asks Irish Times columnist Cliff Taylor on today’s episode of In the News. Together they listen to some ideas about how to tackle the housing affordability issue from Lorcan Sirr, TU Dublin lecturer and housing policy analyst, and Conall Mac Coille, chief economist with Bank of Ireland.
