There is nothing new under the sun and this applies as much to the Irish housing market as anything else. The truly alarming thing about the current housing crisis is that it is really just a rerun of the crisis the preceded the housing crash.
This relationship goes back decades, to the massive surge in house building that followed the economic turnaround in the 1960s and 1970s brought about by Sean Lemass’s economic policies.
Successful housebuilding then, as now, required one thing above all else: rising house prices. This is best achieved by controlling supply. And the best way for housebuilders to do this is by controlling the market for building land as well as influencing government policy towards land use. Manipulating the planning process also helps. All of the above have been features of the Irish house building industry for decades.
Read the full details in the Irish Times
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