How Ireland's property crisis is affecting the real economy

Posted by On 3:42 AM

How Ireland's property crisis is affecting the real economy

In 1980, housing accounted for just 7 per cent of household expenditure in the Republic. By 2016, this had increased to 20 per cent, equating to an estimated €52 billion annually, figures from the Central Statistics Office (CSO) show.

The escalating cost of housing has been a central feature of western economies in recent decades. The problems experienced in Dublin â€" chronic undersupply, young people priced out of the market, increased rates of homelessness â€" are remarkably similar to those seen in London, Sydney and San Francisco, for example.

Please subscribe or sign in to continue reading.Source: Google News Ireland | Netizen 24 Ireland< /a>

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