{"id":12077,"date":"2025-04-08T14:54:35","date_gmt":"2025-04-08T13:54:35","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/?p=12077"},"modified":"2025-04-08T14:54:35","modified_gmt":"2025-04-08T13:54:35","slug":"recession-shouldnt-be-a-necessary-condition-for-affordable-housing","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/recession-shouldnt-be-a-necessary-condition-for-affordable-housing\/","title":{"rendered":"Recession shouldn\u2019t be a necessary condition for affordable housing"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The future of our housing market is at the mercy of international tariffs and trade wars due to the government\u2019s over-reliance on institutional investors, according to Social Democrats TD Rory Hearne.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Deputy Hearne, the party\u2019s Housing spokesperson, said:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cToday\u2019s MyHome report on the state of our housing market paints a stark picture of how the industry\u2019s future will be determined by international affairs in the absence of proactive measures domestically to ensure its health and sustainability.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe binary it presents is a grim one &#8211; recession conditions brought on by a trade war may make housing more affordable, while a resolution could see house prices inflate even more than was once believed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThis is a lose-lose situation as increased tariffs would lead to a reduction in private housing supply and worker income, rebuffing any hopes of buying becoming more affordable, while an end to tariffs and a return to the status quo of unending inflation takes the dream of owning a home even further from the grasp of a locked-out generation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThis outlook could have been avoided &#8211; our market is so reliant on private sector funding and institutional investors that it has become incredibly vulnerable to these kinds of external disruptions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIf successive governments had focused on building social and affordable housing, the market would have gained the resilience necessary to weather international economic shocks like the ones we\u2019re seeing now.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWithout a complete change of tone and vision for the future of this sector, we\u2019re doomed to face the consequences of volatile nations\u2019 decision to war with one another.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIrish house prices are now eight times the average income of \u20ac51,000, their highest since 2009 &#8211; Fine Gael and Fianna F\u00e1il housing policy has plunged this crisis to new lows.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cJust 10,800 homes were for sale on MyHome in March, another depressing record &#8211; supply and costs are out of control.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cScaling up the delivery of affordable homes through local authorities and not-for-profit housing bodies is the only way to reassert control on the housing market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThere are now 15,378 people living in homeless emergency accommodation &#8211; 4,653 of them children &#8211; while 115,425 households are in need of social housing.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cGiven that only 2,119 social homes were built in the first nine months of the year, it is blatantly obvious that the 2024 target of 9,300 will not be reached. It will be the third year in a row that social housing targets will have been missed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe government\u2019s refusal to see sense has left us at the mercy of conflicts we cannot control &#8211; an emergency response is needed now more than ever to pivot focus towards social and affordable housing.\u201d<\/span><\/p>\n<p><em><strong>April 8th, 2025<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The future of our housing market is at the mercy of international tariffs and trade wars due to the government\u2019s over-reliance on institutional investors, according to Social Democrats TD Rory Hearne. Deputy Hearne, the party\u2019s Housing spokesperson, said: \u201cToday\u2019s MyHome report on the state of our housing market paints a stark picture of how the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":11759,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,7,510],"tags":[],"class_list":["post-12077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-crisis","category-press-release","category-rory-hearne"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Recession shouldn\u2019t be a necessary condition for affordable housing - Social Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.socialdemocrats.ie\/recession-shouldnt-be-a-necessary-condition-for-affordable-housing\/\" \/>\n<meta property=\"og:locale\" content=\"ga_IE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Recession shouldn\u2019t be a necessary condition for affordable housing - Social Democrats\" \/>\n<meta property=\"og:description\" content=\"The future of our housing market is at the mercy of international tariffs and trade wars due to the government\u2019s over-reliance on institutional investors, according to Social Democrats TD Rory Hearne. 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