Irish Examiner view: Ireland needs action on housing now

Direct and decisive Government action to address the chronic lack of housing supply would be rewarded at the ballot boxes

The existing lack of supply is an obvious contributing factor to high house prices that will remain a factor into the future.

The latest report from the Economic and Social Research Institute (ESRI) appears to have something in it to upset everyone, or at least something to upset significant swathes of the population.

The report suggests house prices in the country are overvalued by at least 7%, which is bad news for those seeking to get on the property ladder. For those renting, the news is no better — although the ESRI envisages house prices moderating, it foresees no downward trends in rents.