Lack of Housing Forces Young People to Leave, Says Cairn Homes Boss

Michael Stanley says the lack of housing is forcing young people to leave and the Government has a responsibility ‘to play a bigger role’After announcing record financial results and saluting the patience of investors at a press conference last week, Cairn Homes boss Michael Stanley pivoted into a something of an assault on the industry, suggesting housing, or the lack of it, was destroying the economy.

As well as choking off investment and limiting the productive capacity of firms, he said the lack of affordable accommodation was driving our youngest and brightest abroad in a sort of housing-triggered brain drain (my words, not his). “We are an affluent society (but) this feels like the mid-80s” a period blighted by mass emigration, he said. “These kids are leaving because there is no housing.” He noted that home ownership rates among 25-39-year-olds, once considered a prime homeowning age, had dwindled to just 7 per cent. It was 22 per cent back in 2011.Crowds march through Dublin city centre against division, inequality and war“We have to wake up and realise this .

Source: Financial Digest (financialdigest.net)

Housing Young People Brain Drain Economy Affordable Accommodation

Ireland Latest News, Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Housing Cabinet approves land transfer to agency to deliver up to 3,330 new homesThe Cabinet has approved the transfer of State-owned land on 9 sites to the Land Development Agency to deliver up to 3,330 new homes. Housing Minister Darragh O’Brien got approval from his fellow ministers to transfer lands in Dublin, Waterford, Limerick, Cork and Galway. One of the sites chosen is the land at the site of the mint in Sandyford in south Dublin, where a partial transfer will take place.
Source: businessposthq - 🏆 8. / 71 Read more »

Lack of scale in homebuilding sector threatens future supply, report warnsReport by stockbroker Goodbody says industry is made up of a large number of smaller builders with limited capacity
Source: IrishTimesBiz - 🏆 6. / 77 Read more »

Housing body seeks to sell interest in Dublin project amid funding shortfallÓ Cualann Cohousing Alliance looking to sell its 400-unit interest in 635-unit project in Killinarden to Land Development Agency
Source: IrishTimes - 🏆 3. / 98 Read more »

Cairns: Housing crisis gone from emergency to ‘complete disaster’The housing crisis has evolved from an emergency to a “complete disaster”, according to Social Democrat leader Holly Cairns.
Source: NewstalkFM - 🏆 19. / 55 Read more »

Hotel set to rake in just under €13 million a year for housing over 400 refugeesThe previous owners were getting an average rate of 100 euros per room per night and making a profit of a million a year
Source: IrishMirror - 🏆 4. / 98 Read more »

Planning Bill poses ‘severe risk’ to 38,000 homes in pipeline, claims lobby groupOmission of provision to extend permissions delayed by judicial review could affect construction pipeline, says Irish Institutional Property
Source: IrishTimesBiz - 🏆 6. / 77 Read more »