Home ownership knocked by rising rents and house prices
A report by the Parliamentary Budget Office has found a “collapse” in home ownership rates among adults of prime working age from 25 to 54 in the Republic. This is attributed to rising rents and surging house prices. It determined that current house prices were six to seven times average salaries, making housing “severely unaffordable” for many workers. It is evident that after the 2008 financial crisis, earnings declined and…