A new bill which proposed establishing a maximum rent based on a person’s income has been defeated.
The Rent Reduction Bill 2023 introduced by Cork TD Mick Barry proposed the setting up of a new National Rent Authority and the introduction of a new law to cap rents at a maximum 25% of median domestic household income.
Deputy Barry told the Dáil that people are being forced to live with their parents into their late 20s and early 30s.
"It can't be too good for the sex lives of young people to be forced to stay at home with your parents, and that's apart from anything else.
"Sky-rocketing rents are causing young people to emigrate. Back in the day young people emigrated because they couldn't get a job here, or perhaps because there was a stifling atmosphere in society because of church domination.
"Today, young people are emigrating because of the housing issue, and the cost of rent is a huge part of that. They can't afford to rent, or if you can, you're pouring all your money down the drain - dead money."