Cookies on Dublin People website
We use cookies to ensure that we give you the best experience on our website. We also use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the Dublin People website. However, if you would like to, you can change your cookie settings at any time by amending your browser settings.
How does Dublin People use cookies?
Cookies enable us to identify your device, or you when you have logged in. We use cookies that are strictly necessary to enable you to move around the site or to provide certain basic features. We use cookies to enhance the functionality of the website by storing your preferences, for example. We also use cookies to help us to improve the performance of our website to provide you with a better user experience.
We dont sell the information collected by cookies, nor do we disclose the information to third parties, except where required by law (for example to government bodies and law enforcement agencies).
Hide Message
  • News

COMMENT: I’m getting a Celtic Tiger déjà vu feeling

Monday, 16th April, 2018 7:59am

Story by Tony McCullagh
COMMENT: I’m getting a Celtic Tiger déjà vu feeling

An election poster for Fianna Fáil in 1997 in the years preceding the Celtic Tiger. PHOTO: DARREN KINSELLA

COMMENT: I’m getting a Celtic Tiger déjà vu feeling

An election poster for Fianna Fáil in 1997 in the years preceding the Celtic Tiger. PHOTO: DARREN KINSELLA

IRELAND’s housing crisis is probably best exemplified by people having to sleep in their cars: at one end we have those who are homeless; at the other there are the anxious first-time buyers queuing to put down a deposit on a modest property in a Dublin suburb.

Both sides are united by the common purpose of wanting to put a roof over their heads, albeit in very different circumstances. 

It’s undoubtedly a stressful situation for both sets of demographics. Some of those putting their heads down for the night in the back of their vehicle may have become homeless for a multitude of reasons. 

Perhaps they have lost their job and then their home; others may be in the midst of a complicated relationship breakdown; some are possibly victims of a chaotic lifestyle involving drug or alcohol abuse. It’s nearly impossible to tell – every car seat has its own story.

Those queuing to stake their claim on a new property by sleeping rough in their cars or languishing for days on deckchairs in the freezing cold also attract our sympathy, but perhaps to a lesser degree.

We might consider them to be the lucky ones, fortunate enough to be able to secure a deposit that is prohibitively out of reach for many first-time buyers. However, the reality is that we don’t known their full story either. 

What sacrifices did they have to make in their personal lives to save that type of money? What are the financial implications for the many generous parents who have loaned their life savings to get their children on the property ladder?

Last week we learned that the dream of owning a family home is now beyond the reach of couples with a joint income of €92,000 due to spiralling prices. The main difference between now and the boom is that there are tighter restrictions on lending these days, even if property prices are creeping back to their 2007 peak levels.

To reinforce this sense of Celtic Tiger déjà vu, we now have one of the main political players from that era hinting at a run for the presidency. 

Bertie Ahern has been blamed by many of his critics, with some justification, for helping to create the last property bubble. But the current escalating housing crisis goes to show that his successors have been more than capable of doing it equally well in his absence.

Read the digital editions of the Dublin People Northside East, Northside West & Southside here