The Central Bank has issued a warning that the current housing crisis can only be sorted if the State constructs 52,000 houses each year for the following 25 years or alternatively 68,000 every year for the next 10 years. The regulator’s latest quarterly bulletin, which accompanied a special report, highlights a 10-year-long housing undersupply, alongside soaring house prices and rent costs which have surpassed income growth, creating a strain on affordability. Additionally, the report pointed out that the number of newly-employed individuals in the past decade was four times greater than the quantity of new homes built.
In other Irish news,
The 2025 Budget is considering an approximated €1.5 billion package addressing cost of living, as part of bilateral ministerial discussions ahead of Budget day set on October 1st.
A Department of Education commissioned OECD report, which aimed to evaluate Ireland’s approach to addressing disadvantage in schools, has been criticised by principals from some of Dublin’s most deprived areas, who described the report as ‘vacuous’.
The Irish Human Rights and Equality Commission’s report revealed that in 2023, there was an official identification of 53 human trafficking victims, inclusive of five minors in Ireland, and there was a ‘stark increase’ in female victims.
The Family, a drug gang from Dublin, recently got trapped when an encrypted messaging platform they were utilising got infiltrated in a major international policing operation. The gang, having a destitute and tumultuous history, has become a prominent player in Ireland’s criminal world.
Today’s weather prediction indicates that any mist and fog will disperse quickly in the morning, leading to a dry day with lengthy periods of sunshine. The temperature will peak at 17 to 22 degrees. The night will remain dry under largely clear skies, with cooler temperatures ranging between 7 to 11 degrees.
This years Ploughing Championships have begun.
John McKeown began his day early, not skipping a hearty breakfast before the National Ploughing Championships. The event took place under clear skies and provided participants with a challenging but rewarding experience.
In other news, January 2022 was the pinnacle for Press Up, a hospitality group led by Paddy McKillen Jnr and Matt Ryan. Their new endeavor is called Mama Yo, a large Chinese restaurant located on Dublin’s Camden Street that can accommodate up to 154 guests.
On the business front, potential used car buyers should be aware of some critical factors. New cars in Ireland average around €40,000, a cost not everyone is willing to shoulder considering the vehicle’s value depreciates as soon as you leave the dealership. Hence, the majority prefer the second-hand car market.
In the world of sports, the McCambridge household in Lurgan turned into a hub of Gaelic games for several memorable days at the end of July. This intense period highlighted the impact a single week can have, with Clodagh McCambridge aiming for a family success story for Armagh.
Globally, a horrifying event occurred when pagers belonging to Hizbullah militants detonated across Lebanon and Syria. The blasts resulted in at least nine fatalities and injured approximately 2,750 individuals, many of them severely.
Lastly, establishing a social life can be challenging when parents remain involved on a constant basis. This issue was highlighted by a reader’s question to Trish Murphy. As their parents are frequently in the area due to house hunting, they regularly check in, which can impede their child’s social life planning efforts.