Bernard Durkan (Kildare North, Fine Gael) | Oireachtas source

The cost of housing to the average household is way above what would normally be expected. As a result, too much of the family income must go towards paying a mortgage or rent. In some areas rents are moving towards €2,000 per month. Some are higher already. How does a family exist if it has to set aside €2,000 per month to pay rent or a mortgage? Supply in the private sector does have an effect. The problem arose when there was speculation in the marketplace and properties were rolled over on three, four or five times, very often without a sod being turned on the site, to achieve an artificially inflated value which was then passed on in the cost of the house. We cannot allow that to continue because it caused serious problems. People may be upset that somebody should say that but it is a fact.

There are no circumstances in which half of the family income should go to paying the mortgage. It is not possible. It will lead to tears many years in the future. We need to recognise that the level of family income that goes towards meeting the mortgage or rent in the public and private sectors will have a major impact on our society.