Housing emergency - time for a game-changer - Launch of NERI Spring 2017, Quarterly Economic Observer
23 March 2017, 11:00am - 1:00pm
This year’s Spring edition of the NERI Quarterly Economic Observer marks the 21st edition since our launch in March 2012. In this edition, we propose a radically new approach to housing policy based on a European Cost Rental Model [further detail is available at * below]
Copies of the QEO will be available.
Details of Launch
Topic: Launch of QEO, Spring 2017
Speakers: Tom Healy and Paul Goldrick-Kelly (NERI)
Date: 23rd March, 2017
Time: Tea and coffee from 10:50. The launch will commence at 11:00 sharp
Venue: Buswells Hotel, Molesworth Street, Dublin 2
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* Summary of housing policy section of QEO
In this edition, our main policy focus is on the housing emergency in the Republic of Ireland and the need for a long-term strategic approach to investment. We will propose a radical departure from existing approaches which are characterised by a developer-led and market-dependent model as well as a heavily cash-constrained approach to public housing construction. We suggest the adoption of what we term the European Cost Rental Model based on full economic rental costs and catering, at the same time, for a more diverse range of households and yielding a return on investment. Such a model would supplement social housing investment by local authorities and could begin to exert downward pressure on market rents by a gradual expansion in supply of new dwellings as well as the charging of full economic rental cost below going market rates. This approach, if successfully rolled out over a period of two years, could begin to help relieve some of the pressure on low, average and above-average income households. It would also contribute towards an easing of the housing emergency in such a way as to meet unanticipated additional demand for accommodation in the light of possible company relocations to the Republic of Ireland in advance of Brexit.