254 From Crisis to Chaos: Is the Housing System Beyond Repair?

2025-05-06

Episode 254. From Crisis to Chaos: Is the Housing System Beyond Repair? In this episode, I confront the accelerating dysfunction in Ireland's housing system. I explore why the traditional narrative that paints landlords as villains is flawed and how the exodus of landlords is shrinking rental supply, driving rents to unsustainable levels. I dive into the unintended economic consequences of this landlord exodus and the knock-on effects it has on recruitment, foreign investment, and job growth. The episode also tackles the failed appointment of a "housing czar" and the...

Episode 254. From Crisis to Chaos: Is the Housing System Beyond Repair?

In this episode, I confront the accelerating dysfunction in Ireland's housing system. I explore why the traditional narrative that paints landlords as villains is flawed and how the exodus of landlords is shrinking rental supply, driving rents to unsustainable levels. I dive into the unintended economic consequences of this landlord exodus and the knock-on effects it has on recruitment, foreign investment, and job growth.

The episode also tackles the failed appointment of a "housing czar" and the political gridlock stalling progress, as well as the economic warning from Ireland's Central Bank governor. I question whether we're truly facing a crisis—or has it now become chaos?

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Takeaways

The vilification of landlords is damaging the rental market and shrinking supply.
A functional housing system must serve renters as well as owner-occupiers.
30% of Q1 2025 property sales were landlords exiting the market; only 8% were landlord purchases.
A net 22% decline in rental stock is unsustainable and driving rent inflation.
Professional and corporate relocation is being hindered by the lack of rental options.
The government's political infighting derailed the appointment of a housing leader (housing czar).
We need a CEO-level figure with a PLC skillset to solve a €17.5B housing shortfall.
Ideology must give way to pragmatic solutions—fast.
Economic headwinds (e.g., US tariffs) increase the urgency for housing reform.
The system needs to serve all families—not just those with mortgage approval.

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