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 â¬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>