[eoincathal]

And now Ireland is experiencing a housing shortage, with rental prices soaring and house purchase prices heading in that direction.

Market failure, policy failure, awful planning.

Living here, it's hugely disheartening to see a similar pattern emerging so shortly after a massive crash.

I live in Cork, population ~200k. In 2012, I rented a 2 bed apartment in the city centre for €750 a month. Now, I would be lucky to get a decent 1 bed apartment for €1000. And because bank lending rules tightened after 2008, opportunities to purchase a house/apartment have narrowed. Therefore, those (and families in particular) who cannot purchase have been on the receiving end of the spiraling rents. It took the government till late 2016 to put the brakes on the rent increases by creating "rental pressure zones".

https://www.reuters.com/article/ireland-economy-housing/irel...

[adriancooney]

Wow. I had no idea the prices had increased so much. I'm paying just under double what you paid in 2012 for a 2 bed in the city centre.