Housing crisis only expected to get worse until 2023

According to Focus Ireland, the most optimistic statement on housing released by the government reveals that the housing crisis will continue get worse until 2022 or later. This statement is considered very optimistic as housing issues will likely progress into 2023.

The Department of Housing targets 48,000 new home completions by 2023. If this target is achieved, 2023 could be the first time that housing supply could potentially exceed housing demand. Figures provided by the Department of Housing have shown the first time that an admission denoted housing and homelessness will only continue to get worse in the next few years.

Although the Department of Housing has set a target of 48,000 new homes to be built by 2023, this target could be missed. If the target is completed or surpassed then burdens associated with the housing crisis could be significantly reduced. The problems that could be reduced would include reduced homelessness and new homes would create more supply for social and affordable housing. However, if homes were to be sold at current market values then the impact on …

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