{"id":1481,"date":"2021-02-27T12:12:14","date_gmt":"2021-02-27T12:12:14","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/shared-equity-loans-must-be-scrapped\/"},"modified":"2021-02-27T12:12:14","modified_gmt":"2021-02-27T12:12:14","slug":"shared-equity-loans-must-be-scrapped","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/shared-equity-loans-must-be-scrapped\/","title":{"rendered":"Shared equity loans must be scrapped"},"content":{"rendered":"<p>Speaking at the Social Democrats\u2019 online National Conference today, Housing spokesperson Cian O\u2019Callaghan TD said:<\/p>\n<p>\u201cThe Minister for Housing must scrap his ill-thought-out proposals to introduce shared equity loans. These loans, which were lobbied for by developers, will lead to house price inflation. Senior officials in the Department of Public Expenditure and Reform, the ESRI and the Central Bank have all warned against them.<\/p>\n<p>\u201cThe experience in the UK is that shared equity loans were availed of mainly by people who were already able to afford to buy their homes. This resulted in first time buyers paying a premium for their homes and significantly boosted the profits of large developers.<\/p>\n<p>\u201cI am calling on the Minister for Housing to scrap these proposals and to instead invest the \u20ac75m allocated for shared equity loans this year into the services sites fund to support the direct build of affordable homes. This would be much better value for money and deliver more badly needed affordable homes.<\/p>\n<p>\u201cWe do not need measures that will inflate home prices, subsidise developers and return us to the failed policies of the Celtic Tiger era.\u201d<\/p>\n<p><strong>February 27, 2021<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Speaking at the Social Democrats\u2019 online National Conference today, Housing spokesperson Cian O\u2019Callaghan TD said: \u201cThe Minister for Housing must scrap his ill-thought-out proposals to introduce shared equity loans. These loans, which were lobbied for by developers, will lead to house price inflation. Senior officials in the Department of Public Expenditure and Reform, the ESRI [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1055,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[278,7],"tags":[],"class_list":["post-1481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cian-ocallaghan","category-press-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Shared equity loans must be scrapped - 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\/shared-equity-loans-must-be-scrapped\/\" \/>\n<meta property=\"og:locale\" content=\"ga_IE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shared equity loans must be scrapped - Social Democrats\" \/>\n<meta property=\"og:description\" content=\"Speaking at the Social Democrats\u2019 online National Conference today, Housing spokesperson Cian O\u2019Callaghan TD said: \u201cThe Minister for Housing must scrap his ill-thought-out proposals to introduce shared equity loans. These loans, which were lobbied for by developers, will lead to house price inflation. 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