The Taoiseach Leo Varadkar has said it is better to solve the housing crisis slowly than with a quick fix.
Mr Varadkar claims a return to building 80,000 homes a year would only fuel the boom-bust cycle we have seen in the past.
He has accepted the Government's housing programme has not worked yet, but denies it is a failure.
Mr Varadkar stressed patience when dealing with the housing market.
The Taoiseach said: "70,000 or 80,000 new homes were being built a year, I know some people might think wouldn't it be great if we could do that next year.
"But I'm not sure it would, because that's where you get back to what you had before, credit-fuelled construction and pretty shoddy construction as well, and we're really paying the price for that now.
"Even though it's so frustrating that this problem is taking so long to solve, maybe it's actually better to solve it slowly, than a quick fix."