This mortgage plan for first time buyers

I want it gone.

I’m a first time buyer and what I want are houses and apartments which do not have a high capital cost. Giving me a cheap special sort of mortgage with reduced need for a deposit is not going to do this.

I’m aware that people are claiming we don’t have a bubble because you know what, cash, not borrowing, fundamentals blah blah. We don’t even have to argue that point. What we have now is an economy which the government thinks it can run on low incomes and what are relatively high rental and purchase prices for property.

How do we fix that? Well we find out how many properties are unoccupied and if they are in areas like Dublin, for example, we start making it attractive to get them occupied and fast. The government is very fast with the sticks when it comes to water charges, not so much when it comes to getting property occupied. Quintuple the property tax on unoccupied property in Dublin and you’ll find property turning up on both markets quick enough. Oh sure, a glut of supply will see housing costs come down, but fine, that’s what’s actually needed to uhem, improve competitivity.

I know Michael Noonan doesn’t like this whole idea of low accommodation prices but actually, tough.