Aidan Regan: Ever-rising house prices is leading to the flight of the middle-class constituency

The fact that many middle-income voters do not see home ownership as achievable indicates the disconnect between income growth and the grievances that people feel

The average house price in Dublin today is just over €500,000, so a couple looking to buy an average-priced home require a gross annual income of more than €130,000. Picture: RollingNews

There are few laws in the political and social sciences. But one of them is that a stable middle class is a necessary condition for capitalist democracy. It mitigates against demands for radical redistribution, and stops the rise of political extremes. If there’s no middle class, then liberal democracy is in trouble.

But what exactly does it mean to be middle class? Is it simply a shorthand to describe those with middle income? If so, ...