Exclusive: Government finally admits housing targets ‘significantly below’ demand

Confidential memo to finance minister warns of inability to meet needs of country

Officials in the Department of Finance said the target for housing will need to be changed from 33,000 to 50,000 homes per year

Finance minister Michael McGrath has been warned by his officials in private documents that the government’s housing targets of 33,000 homes are “significantly below” the actual requirement of 50,000 homes per year.

According to an internal memo, obtained by the Business Post, officials have issued a major warning that the state is now “heavily involved in subsidising, building and procuring apartment developments”.

Documents released under freedom of information laws show that officials also warned that ...