{"id":1507,"date":"2021-03-16T10:51:36","date_gmt":"2021-03-16T10:51:36","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/housing-minister-must-heed-warnings-from-the-central-bank\/"},"modified":"2021-03-16T10:51:36","modified_gmt":"2021-03-16T10:51:36","slug":"housing-minister-must-heed-warnings-from-the-central-bank","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/housing-minister-must-heed-warnings-from-the-central-bank\/","title":{"rendered":"Housing Minister must heed warnings from the Central Bank"},"content":{"rendered":"<p>Social Democrats Housing spokesperson, Cian O\u2019Callaghan TD, said today that it is vitally important that the Minister for Housing listens to the warnings from the Central Bank about his proposed shared equity loan scheme.<\/p>\n<p>Deputy O\u2019Callaghan commented:<\/p>\n<p>\u201cThe last time a government ignored warnings about over-heating house prices, it resulted in thousands of families being saddled with unsustainable debt. It is crucial that Fianna F\u00e1il learns from its past mistakes and stops introducing policies that will benefit developers.<\/p>\n<p>\u201cIn its submission to the Oireachtas Housing Committee, the Central Bank warns that the introduction of a shared equity scheme could lead to an increase in house prices, while doing little if anything to increase the supply of housing. The Central Bank notes the accumulation in household savings, which have substantially increased over the past year and that this should be taken into consideration.<\/p>\n<p>\u201cThe Central Bank also advises that the Government should focus on addressing supply constraints, including tackling land hoarding and delivering cost rental and affordable purchase homes.<\/p>\n<p>\u201cI\u2019m calling on the Minister for Housing to drop his plans for a shared equity loan scheme. The Minister has failed to produce any credible independent analysis to support the introduction of this scheme and continues to ignore numerous warnings that it will not improve supply and instead will increase house prices.\u201d<\/p>\n<p><strong>March 16, 2021<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Social Democrats Housing spokesperson, Cian O\u2019Callaghan TD, said today that it is vitally important that the Minister for Housing listens to the warnings from the Central Bank about his proposed shared equity loan scheme. Deputy O\u2019Callaghan commented: \u201cThe last time a government ignored warnings about over-heating house prices, it resulted in thousands of families being [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1499,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[278,7],"tags":[],"class_list":["post-1507","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>Housing Minister must heed warnings from the Central Bank - 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\/housing-minister-must-heed-warnings-from-the-central-bank\/\" \/>\n<meta property=\"og:locale\" content=\"ga_IE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Housing Minister must heed warnings from the Central Bank - Social Democrats\" \/>\n<meta property=\"og:description\" content=\"Social Democrats Housing spokesperson, Cian O\u2019Callaghan TD, said today that it is vitally important that the Minister for Housing listens to the warnings from the Central Bank about his proposed shared equity loan scheme. 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