The man charged with solving the spiralling house prices problem is a city boy who now lives in the country. Dr Peter Bacon (46), raised in Drumcondra on Dublin's northside, moved his family home to Wexford some years ago. But he maintains an apartment in Dublin.
Former stockbroker and adviser to Mr Ahern when he was minister for finance, Dr Bacon will today produce his third report on the housing sector. With house prices still rising alarmingly despite his earlier reports, his detractors question why he was given the job of producing another report. People who have worked with him over the years describe him as "an individualist, definitely not a team player". He is widely described as "very driven".
After school in Colaiste Mhuire in Parnell Square, Dr Bacon studied economics at Trinity College and in 1975 joined the Department of Finance. Within two years he moved to the OECD in Paris. In 1980 he joined the Economic and Social Research Institute.
In 1986 he joined Goodbody Stockbrokers as chief economist, making his name organising the sale of Government bonds in overseas markets. By 1988 he was an executive director and three years later he was managing director.
Dr Bacon set up as an independent economic consultant in 1994. In September 1994 he became a part-time economic adviser to the Government, appointed by the then minister for finance, Mr Ahern. But the position was shortlived because the Fianna Fail/Labour coalition fell. Sources say that Dr Bacon is close to Mr Ahern. Dr Bacon enjoys country pursuits of bird watching, horse-riding and shooting. He enjoys opera. Friends say he can be very charming and is a good conversationalist. He is married with a daughter and a son