To reduce the risk and the amplitude of future housing cycles, housing policy needs to consider also financial stability issues. In this regard, it seems particularly important to promote a well-developed rental market as a genuine alternative to ownership, and an attractive investment proposition for potential landlords.
While many households may continue to buy rather than rent, we need to make sure that this choice reflects their preferences and does not merely reflect a poorly functioning rental market. References Ball, L., (2014) “Long-Term Damage from the Great Recession in OECD Countries”, NBER Working Paper 20185. 22  For more information, see: http://www.citizensinformation.ie/en/social_welfare/social_welfare_payments/ supplementary_welfare_schemes/rent_supplement.html. 23  OECD (2011).