‘Affordability’ is the smokescreen concealing rip-off reality of housing boom

A RECENT theme in the discussion of house prices is ‘affordability’, which has apparently stayed the same despite the huge price increases.

This is true because interest rates have reached historic lows, but imagine going into a car dealership and being told: “Well, this car was €15k last year but, because interest rates are low, we’ve put the price up to €30k”.

I think you can imagine the reaction, and it wouldn’t be polite.