{"id":1848,"date":"2022-07-06T08:13:40","date_gmt":"2022-07-06T07:13:40","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/failure-to-tackle-the-housing-crisis-is-creating-a-poverty-time-bomb\/"},"modified":"2022-07-06T08:13:40","modified_gmt":"2022-07-06T07:13:40","slug":"failure-to-tackle-the-housing-crisis-is-creating-a-poverty-time-bomb","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/failure-to-tackle-the-housing-crisis-is-creating-a-poverty-time-bomb\/","title":{"rendered":"Failure To Tackle The Housing Crisis Is Creating A Poverty Time Bomb"},"content":{"rendered":"

The failure to resolve the housing crisis will have catastrophic consequences for entire generations of young people<\/strong><\/em><\/p>\n

Ireland\u2019s housing crisis is creating a poverty time bomb due to the soaring numbers of people who will be forced to continue to pay rent long after they retire, according to Social Democrats Housing Spokesperson Cian O\u2019Callaghan.<\/p>\n

Deputy O\u2019Callaghan was responding to an ESRI study which found the proportion of older people living in poverty could rise from 14pc to 31pc due to a collapse in home ownership rates.<\/p>\n

\u201cThe figures in today\u2019s report are extremely stark. The number of 25 to 34-year-olds who own their own home more than halved between 2004 and 2019, falling from 60pc to just 27pc.<\/p>\n

\u201cHistorically low levels of homeownership are creating a poverty time bomb due the soaring numbers of people who will be forced to continue to pay rent long after they retire. The ESRI has estimated that the proportion of older people living in poverty will reach a staggering 31pc.<\/p>\n

\u201cThis is a nightmare scenario \u2013 which will inevitably become a grim reality unless the government takes serious action to tackle the housing crisis. Regretfully, there is no indication that it is doing so.<\/p>\n

\u201cThis government, and successive previous Fine Gael-led governments, have continually promised to boost home ownership rates. Instead, under their watch, the situation is getting progressively worse.<\/p>\n

\u201cThis failure to resolve the housing crisis will have catastrophic consequences for entire generations of young people, who are now looking towards an uncertain and insecure future of housing insecurity and poverty.<\/p>\n

6 July, 2022<\/p>\n

Ends<\/p>\n","protected":false},"excerpt":{"rendered":"

The failure to resolve the housing crisis will have catastrophic consequences for entire generations of young people Ireland\u2019s housing crisis is creating a poverty time bomb due to the soaring numbers of people who will be forced to continue to pay rent long after they retire, according to Social Democrats Housing Spokesperson Cian O\u2019Callaghan. Deputy […]<\/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":[278,10,7],"tags":[],"class_list":["post-1848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cian-ocallaghan","category-housing-crisis","category-press-release"],"acf":[],"yoast_head":"\nFailure To Tackle The Housing Crisis Is Creating A Poverty Time Bomb - 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\/failure-to-tackle-the-housing-crisis-is-creating-a-poverty-time-bomb\/\" \/>\n<meta property=\"og:locale\" content=\"ga_IE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Failure To Tackle The Housing Crisis Is Creating A Poverty Time Bomb - Social Democrats\" \/>\n<meta property=\"og:description\" content=\"The failure to resolve the housing crisis will have catastrophic consequences for entire generations of young people Ireland\u2019s housing crisis is creating a poverty time bomb due to the soaring numbers of people who will be forced to continue to pay rent long after they retire, according to Social Democrats Housing Spokesperson Cian O\u2019Callaghan. 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