‘Whoever is buying the houses is driving up their prices, so who could it be?’ writes David McWilliams
In his column this week, David McWilliams takes a look at the State’s role in prices rising 7.8 per cent in the year to June. Photograph: Chris Maddaloni/The Irish TimesA bespoke collection of Irish Times journalism exclusively for subscribers featuring previews and the best of the week that was
The bogeymen blamed for skyrocketing rents and unaffordable prices vary from land-hoarders and developers, to vulture funds and short-term lets. But in his column this week, David McWilliams“Whoever is buying the houses is driving up their prices, so who could it be?” writes McWilliams. “Who gains? The shareholders of home builders who are mainly foreign institutions. What does Irish society get? Probably the most expensive council houses on earth.”by Ian Curran, who looks at the sector’s outsize influence on the economy: “Tech workers are probably one of the only types of first-time buyers who can now buy in Dublin within the M50,” one agent told him.
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