Ireland is Searching for Additional Construction Workers to Solve Housing Shortage

Ireland has a population growth of more than five times compared to the EU average. In the year 2017, Ireland’s population rose by 1.1% per annum, a lot larger than the average for the EU of .2%. Additionally, Ireland had the highest birth rate of any EU member with 12.9 births per 1000 people.

A growing population is great for the economy; however, it causes additional problems as well. One of these problems is a major housing shortage, especially within the more densely populated cities, like Dublin.

One of the roadblocks that Ireland faces with improving the housing shortage is the lack of construction workers. At the current rate, it will be nearly impossible to keep up with the growing population in densely populated Irish cities. Attracting construction workers from abroad could be a short-term fix and become long-term. Additionally, an increase in construction workers would stabilize pay and lower costs for construction companies. Professor Alan Ahearne, Director of Whitaker Institute and Professor of Economics at the National University of Ireland, is worried that a large influx of workers would …

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How you are already paying for nationalization

With one bank totally nationalised and others due to get recapitalised any day now it is time to ask ‘Who is paying, or going to pay for all of this?’. And the answer is in short – the tax payer, it’s just a matter of when and how.

One interesting conversation I had today was with a banking colleague (and I don’t have many friends in the bank system!) who asked me this ‘How can some banks offer deposit rates that are so far above the money market?!’. I told him that this offer existed because of the margins being charged on their lending.

His belief was that they are effectively selling government bonds via their deposit function, the state can either capitalise them -and doing so goes on the official record- or they can be propped up with deposits paid in by the public for high returns, however those returns may eventually have to be paid for by the state and thus, ultimately, by the taxpayer.

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