![]() “The Minister would really be better spending his time addressing the housing crisis that Fianna Fáil and Fine Gael created rather than in engaging is silly publicity stunts like this letter.” He added homeless children need homes “not cheap soundbites”. ![]() “The Government’s social and affordable housing targets, too low to begin with, are not being met. “House prices and rents continue to rise, locking an entire generation out of home ownership,” Mr Ó Broin said. In a statement Mr Ó Broin said homelessness has reached record levels during Mr O’Brien’s time in office with the latest figures for November showing more than 13,500 people, including more than 4,000 children, in emergency accommodation. “Back of the envelop house value goals are deeply irresponsible and may have real world repercussions by damaging confidence in our home-building sector,” Mr O’Brien says. He says it is incumbent on the main opposition party to present “credible policies” and accuses Sinn Féin of not offering detail on how it would “reduce house prices to €300,000, build new homes at that price or address the fallout of a 30 per cent property value drop shock”. “Combined with Sinn Féin policy of abolishing the Help to Buy scheme, First Home scheme and vacant property grants this new policy position of slashing home values by €100,000 to €130,000 would be disastrous for home building and buying,” Mr O’Brien says. He contends mortgage lending to first time buyers could “dry up by half” saying that just 13,396 first-time buyers drew down mortgages in 2015 compared to 25,196 in 2022. Mr O’Brien says home building could “collapse” highlighting how 2015 saw less than a quarter of 2022′s output in terms of new homes completed. ![]() The number of homeowners is based on the approximately 284,300 residential units purchased since 2015. Mr O’Brien argues that almost 300,000 homeowners would see their properties fall below the value they bought them at and “many of these would potentially be sucked into negative equity”. ![]()
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