The social contract of the past was that a nurse and a guard were paid just enough to afford to buy a home of their own. But the rising cost of housing, and the restrictions on how much people can borrow, have completely broken that model.
A nurse on an average pay packet of €51,000 and a garda on average pay of €64,000 can only borrow a maximum of €310,500 under the Central Bank’s mortgage...
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