Demonstration aims to highlight housing shortage in Galway 22:43 Apr 08 0 comments Census reveals 1 in 8 houses empty while thousands homeless 23:43 Jul 28 0 comments Video from the Villa Park eviction in Dublin 02:09 Jan 24 0 comments NAMA Has Been a Dream Come True for Many US Vulture Funds... 21:27 Jul 20 2 comments Call to all squatters, antifascists and everyone else to support the struggle in Calais 09:19 May 23 0 comments more >>Blog Feeds
Anti-EmpireUS Gives Weapons to Taiwan for Free, The... Fri May 03, 2024 03:55 | Anti-Empire Russia Has 17 Percent More Defense Jobs ... Tue Apr 30, 2024 11:56 | Marko Marjanović That Time Blackwater and US Army Shot Ea... Sun Apr 28, 2024 12:54 | Marko Marjanović Rheinmetall Plans to Make 700,000 Artill... Thu Apr 25, 2024 04:03 | Anti-Empire America’s Shell Production Is Leaping,... Wed Apr 24, 2024 05:29 | Anti-Empire
Human Rights in IrelandA Blog About Human RightsUN human rights chief calls for priority action ahead of climate summit Sat Oct 30, 2021 17:18 | Human Rights 5 Year Anniversary Of Kem Ley?s Death Sun Jul 11, 2021 12:34 | Human Rights Poor Living Conditions for Migrants in Southern Italy Mon Jan 18, 2021 10:14 | Human Rights Right to Water Mon Aug 03, 2020 19:13 | Human Rights Human Rights Fri Mar 20, 2020 16:33 | Human Rights
Lockdown Skeptics
Impersonal Male Activity Sun May 05, 2024 15:00 | James Alexander
No Phones in Lavatories Sun May 05, 2024 13:00 | Joanna Gray
Taxpayers Funding a £475-a-Day Expert to ?Decolonise? Hadrian?s Wall Sun May 05, 2024 11:00 | Richard Eldred
Topsy-Turvy Land Sun May 05, 2024 09:00 | Guy de la Bédoyère
Green Blob Tells Government to Spend £30 Billion on Machine to Remove CO2 From the Air Sun May 05, 2024 07:00 | Ben Pile
Voltaire NetworkVoltaire, international editionVoltaire, International Newsletter N°85 Fri May 03, 2024 14:25 | en The Kastner case resurfaces Fri May 03, 2024 14:06 | en Non-Semite (sic) Khazar Netanyahu calls US anti-genocidal academics "anti-Semite... Fri May 03, 2024 07:13 | en Paris 2024 and Berlin 1936 in the service of an impossible imperial dream, by Th... Tue Apr 30, 2024 07:07 | en Georgia and the financing of political organizations from abroad Sat Apr 27, 2024 05:37 | en |
Young people ‘blacklisted’ from housing market
national |
housing |
press release
Friday June 01, 2007 15:54 by SDLP Youth - SDLP
SDLP Youth shocked at the continual rise in house prices, leaving young people with no hopes of getting onto the housing ladder. SDLP Youth Chairman Gary McKeown has expressed concern at the findings of a new report which show that house prices in Northern Ireland are continuing to spiral. |
View Comments Titles Only
save preference
Comments (1 of 1)
Jump To Comment: 1Hello, I just surfed into your site. I am a father of four children between the ages of 22 and 30. I went up for election as an independent candidate in Sligo North Leitrim to highlight this very grave injustice that is being perpetrated on our young men and women on this isle of ours. The bottom line is that house prices both North and South are increasing rapidly because of the unseemly inward investment in mortgages from Elderly Europe! What is happening is that financial companies are bungling hundreds of mortgages together and selling them to European Pension Funds etc one and two billion euros at a time; now they take a big commission from the European Pension Fund; and then they have the balance to lend out again, and on and on and on!. The limit is: what the youth will bear. All the banks etc are at it; loads of commission is being collected from Pension Funds etc.
Our Governments are restricted from borrowing 60% of GNP by various EU agreements; but there is no restriction on the amount that Banks etc can lend out to our young men and women, can be up to 6 and 9 times salary. I reckon that c.€50,000,000,000 (yes 10 zeros) has entered the Southern Irish Housing market in this way. Housing in Dublin has increased by c. three times in the past 10 years when the CPI Index only increased by 30%. THIS IS PURE ECONOMIC MADNESS. This investment mirrors the total USA investment of €50Bn in the Irish Economy but will pull in the opposite direction i.e. young people will need huge salaries to buy a house. USA investment will fly out of Ireland. I called for a National Enquiry into this whole affair; even went to the expense of paying for an input to The Sunday Independent to highlight the potential disaster of this unregulated investment in Ireland. Ouch! The Silence! I reckon that this small economy will not be able to withstand worrying implications of this unplanned (by Govt. Authorities, politicians, etc). European Pension Funds are also being ripped off! All this is happening unbeknownst to our Politicians. Congratulations to the youth of the SDLP who have the gumption and the wherewithal to QUESTION!