The papers presented so far this morning have provided insightful discussion and healthy debate. Considering the housing market today, it is important to place it in context of the wider Irish economy. The economy has performed remarkably well over the past five years and has been one of the fastest growing economies in the European Union.
We have seen consistent, strong growth in employment, and average weekly earnings have increased by 14 per cent.2 The strong recovery and performance of the economy has come with rising housing costs.