Why is the ambition of this government, when it comes to housing, so pathetically weak?
The Housing Minister’s plan to bail out developers out to the tune of €120,000 per apartment, without securing any reduction in the cost of those apartments, is perhaps his most inane policy yet, according to Social Democrats Housing Spokesperson Cian O’Callaghan.
“It is bizarre and extraordinary that Housing Minister Darragh O’Brien intends gifting developers up to €120,000 per apartment – without securing any apparent benefit for the Exchequer. The State is bailing out developers, but they will still be seeking full market value when the apartments are sold. On what planet does this make any sense?
“If developers are in financial trouble and unable to complete developments, why doesn’t the State take over those developments and ensure the supply of social, affordable and cost-rental homes is increased. Instead, the Housing Minister will pay developers huge sums to complete these projects – without any reduction in the sale price being agreed. You couldn’t make this up.
“This government’s housing policies are replete with sweetheart deals for developers and this is yet another egregious example. Why is the ambition of this government, when it comes to housing, so pathetically weak? Why are they so eager to prop up developers and so loathe to take any radical action to support ordinary workers and families desperately seeking a home?
“This government has pursued a laundry list of failed housing policies, but this is perhaps the most inane one yet. The housing crisis has now persisted for a decade and incomprehensible policies like this one, in which no-strings-attached money is thrown at developers, explains why it has persisted for so long.
“If we ever want to see the housing crisis meaningfully addressed, this government has to go.”
6 May, 2022