Property collapse - Blame game is in full flow

THE blame game has started in earnest with Finance Minister Brian Lenihan suggesting we have ourselves to blame for the collapse in the construction sector.

Undoubtedly those who bought houses as investments rather than homes are in some way culpable. Undoubtedly our bizarre zoning legislation played a part. Undoubtedly our inability to match infrastructure with housing needs had a hand in the boom. Undoubtedly our last finance minster — Mr Cowen — who did not intervene to preclude banks from giving 100%-plus mortgages is partially to blame. Undoubtedly our greed and expectation of a fast buck had a part to play as well. Certainly, voracious banks and auctioneers fuelled soaring prices for unstoppable buyers.

But for Mr Lenihan to suggest that the government had no role to play is yet another reason politics and politicians are held in less esteem than they and anyone who cares for democracy might wish.

By its lack of leadership and intervention the government played its part too. Governments are elected to lead, it is well past the time this one did.