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Housing in Ireland: From Crisis to Crisis

24 Pages Posted: 18 Feb 2015  

Rob Kitchin

National University of Ireland, Maynooth (Maynooth University) - NIRSA

Rory Hearne

Maynooth University

Cian O'Callaghan

Maynooth University

Date Written: February 17, 2015

Abstract

In this paper we provide an overarching analysis of housing in Ireland from 1993-2014, examining trends in housing and land prices, supply and vacancy, social housing, private renting, mortgage debt and arrears, negative equity, and homelessness. The central thesis we advance is that housing in Ireland has been perpetually in crisis over the past twenty years, evolving through three distinct phases: 1993-2006 (the Celtic Tiger years); 2007-2012 (the crash); 2013- (unstable, uneven and partial rebalancing). The paper sets out the trends, policy and the multiple crises operating within each of these periods, illustrated through an extensive use of relevant data. The conclusion sets out why housing in Ireland evolved through these crises and examines what might be done to solve present issues and provide more robust housing policies that will be sustainable, equitable and ameliorate against future boom and bust cycles.

Keywords: house prices, supply, vacancy, social housing, private renting, mortgage debt, mortgage arrears, negative equity, homelessness, unfinished estates, land prices

Suggested Citation

Kitchin, Rob and Hearne, Rory and O'Callaghan, Cian, Housing in Ireland: From Crisis to Crisis (February 17, 2015). Available at SSRN: https://ssrn.com/abstract=2566297 or http://dx.doi.org/10.2139/ssrn.2566297

Rob Kitchin (Contact Author)

National University of Ireland, Maynooth (Maynooth University) - NIRSA ( email )

2nd Floor
Iontas Building
Maynooth, County Kildare
Ireland

Rory Hearne

Maynooth University ( email )

Main Street
Maynooth, Kildare
Ireland

Cian O'Callaghan

Maynooth University ( email )

Main Street
Maynooth, Kildare
Ireland

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