Sir, – I have been struggling for the past number of years to understand how it is that the affordability of houses has gone beyond the reach of the majority of our young population and couples, many of whom are in good stable pensionable State employment.
It would appear that the main contributor to the problem is the policy of quantitative easing being pursued by the Central Banks in the major democratic countries of the western world.
Their policy of printing money and making it available to governments at zero interest has had the effect of inflating/increasing the value of assets, mainly in stocks, bonds, property and housing, whilst failing to lift the value of salaries and wages by a commensurate rate resulting in the level of affordability of the citizens being reduced year after year.
Governments need to reassess their economic policies with a focus on this anomaly which is not serving the democratic system well by leaving the majority of the young population struggling and frustrated in their inability to provide housing for their families. – Yours, etc,
PASCAL FULLER,
Donnybrook,
Dublin 4.