The Taoiseach repeated his view that he does not believe that the property market will crash.
Bertie Ahern said that the Irish residential property stock was worth €500 billion, and the loan book was €100 million, so he did not see why that should create a shock.
"I said the same in 2003, 2004 and 2005. I said the same thing at the IMI conference almost every year, and every year I had to listen to reports that the bottom would fall from the market, and we would build fewer houses, but that is not the case."
He said the priority was to ensure supply and demand. "We have worked hard in this Government and successfully achieved the creation of more houses every year for nine years, both social and affordable."
Green Party leader Trevor Sargent said people were more in debt than ever before because of high mortgage repayments.
Joe Higgins (Socialist Party, Dublin West) remarked: "People are in hock with 40-year mortgages, making the speculators filthy rich."
Mr Ahern said that somewhere along the line supply and demand would come together. "The reality is that there are cautionary issues about 100 per cent mortgages. We all agree on that."
Earlier, Mr Sargent said a report in The Irish Times had detailed the "support and largesse" the Taoiseach enjoyed from a large number of construction companies.
"Does this special relationship explain the Taoiseach's comments at the IMI national management conference in April, where he talked up the housing market, even though prices have risen by nine times the rate of wage inflation, average household debt has increased from 40 per cent of disposable income to 130 per cent since this Government took power?"
Mr Ahern said it would be good if Mr Sargent had read the 40-minute speech. "Quite apparently he did not. He has made one remark about what I said afterwards in a press briefing."
