Document Type

Article

Rights

This item is available under a Creative Commons License for non-commercial use only

Disciplines

Economics, Sociology, Social topics, Social issues, Family studies, Law, public administration, Urban studies (Planning and development)

Publication Details

Published in the Irish Independent on 21 June 2013

http://www.independent.ie/lifestyle/property-homes/tax-policy-swings-to-those-who-rent-homes-29361720.html

Abstract

A major change in Ireland in recent years has been the rapid fall in home ownership, down from 75pc of households in 2006 to 70pc at present.

This brings Ireland more into line with home ownership rates in the US and UK, lower than those of southern Europe but higher than the prosperous economies of northern Europe where long-term renting is very common.

In the public mind, however, this lower level of owner occupancy is seen as temporary and symptomatic of a distressed economy where buyers have difficulty obtaining mortgages and in any event are content to stand off a market where prices are not expected to rise. The thinking is that, when the crisis abates and conditions improve, purchasers will come back, driving activity and bringing levels of owner occupancy up to more normal levels.

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