Irish Examiner view: We cannot afford not to spend billions to fix housing crisis

Cabinet needs to be brave on Housing For All plan

The challenge of providing enough good affordable housing is a problem facing many countries but the Government needs to bite the bullet.

The Cabinet’s need to reach agreement on a new national housing plan could have serious consequences for the tens of thousands of people who need a home of their own, as well as for the political stability of the Coalition Government.

The challenge of providing enough good affordable housing is a problem facing many countries today, and is a fundamental focus for most governments, including our own.

Senior government figures have clashed at Cabinet over the multibillion-euro Housing For All plan, which delayed the publication of the traditional summer economic statement.

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At a time when housing is increasingly unaffordable, with bidding wars seeing houses sold for many tens of thousands above asking prices in parts of the country, the Cabinet needs to be brave. Solving the housing crisis matters more than the fortunes of any political party. While the Coalition squabbles, many thousands who want to own their own homes are forced to continue renting.

According to new research from the Residential Tenancies Board, Irish tenants spend, on average, 36% of their net income on rent, with a fifth of tenants renting because they cannot get a mortgage.

The main issue with the plan appears to be one of cost, with some politicians and economists arguing that we cannot afford to spend billions of euro to fix the housing crisis.

The reality, though, is that we cannot afford not to.