The David McWilliams Podcast The Octagon Versus the Putting Green
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Nov 26, 2024 Dive into Ireland's election season where slogans overshadow real vision. Explore the dire housing crisis, comparing Dublin's derelict buildings with Finland's innovative solutions for homelessness. Discuss local councils' potential to self-finance and tackle the issue effectively. Zoom out to see how American populism impacts Ireland's economy amidst concerns over foreign direct investment and corporate interests. Will Ireland choose meaningful change over short-term fixes in these tumultuous times?
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Turku's Self-Financing Model
- Dublin City Council claims it lacks funds to refurbish derelict buildings, costing around 50,000 euros each.
- David McWilliams contrasts this with Turku, Finland, where municipalities issue bonds to self-finance housing projects.
Housing as an Asset
- Treat housing as an asset, not a cost, generating income through rent.
- Issue municipal bonds to finance renovations, with rents covering the interest payments.
Lack of Imagination
- The lack of imagination in Irish housing policy is evident in the focus on small giveaways instead of big ideas.
- Ireland has infantilized local councils by removing their ability to raise taxes and self-fund.
