Opinion: One simple fact is driving the radicalisation of Ireland’s younger voters
There was no baby boom for the Irish boomer, and they were likely to emigrate from a barely functional State. Nevertheless, Irish people over 40 have had a significantly easier time buying a place to live and that division in home ownership, rather than any other life experience, has created significant political cleavages that seem destined to widen further. These effects are already being felt in other countries.
Ireland has historically had some of the highest rates of home ownership in Europe, and lowest levels of renting. This has declined as our financialised housing system continues to push prices to new and more ludicrous heights. Fewer people own their own homes, more are pushed into the dysfunctional private rental system. The same mechanism that makes housing unaffordable makes asset owners ever richer, at least on paper.
After the 2008 housing crash, the Fine Gael/Labour coalition that came to power in 2011 doubled down on the model, making it even easier for international funds to purchase and own huge property portfolios.
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