Homeownership drifting out of reach for a generation – Sheehan
Homeownership drifting out of reach for a generation – Sheehan - The Labour Party
- Average age of buying a home now nearing 40
Labour housing spokesperson Deputy Conor Sheehan has said the sharp rise in the average age of first time buyers to 38 or 39 lays bare the scale of Government failure on housing and shows how far homeownership has drifted out of reach for ordinary working people.
Deputy Sheehan said:
“It beggars belief that in less than twenty years the average age of buying a home has risen by almost a decade. This is not a surprise to anyone who has been paying attention to the housing crisis, but it should shock Government into action. A whole generation have watched the goalposts move further and further away while Fianna Fáil and Fine Gael fail to deliver the homes people need.
“They say life begins at forty. According to this Government, that is also when your mortgage begins. That is the grim reality now facing thousands of people across Ireland. Instead of building their lives in their twenties and thirties, people are spending those years trapped in the rental market, trying to save while rents soar and house prices spiral out of control. Homeownership has become a distant goal rather than a realistic step in adulthood.
“The consequences go far beyond housing. When people cannot afford to buy a home until their late thirties, every other life milestone gets pushed back. Couples delay starting families. Young workers postpone putting down roots in their communities. People hold off on making long term plans because the basic foundation of housing is missing. If you cannot find a secure and affordable place to live, how can you confidently take the next step in life?
“The message from these figures is clear. Government housing policy is pushing homeownership further and further out of reach. Ministers cannot continue to shrug their shoulders while an entire generation sees their future delayed. The Government must now act with urgency to deliver affordable homes at scale and restore the basic promise that if you work hard in Ireland, you can afford a place to call home.”