Housing and living costs are worse now than 30 years ago
Summary
Economist Austin Hughes joins Newstalk Breakfast to discuss new research on Irish household wealth, noting that while material living standards have improved significantly since 1996, consumer sentiment remains pessimistic. Hughes explains that this disconnect stems from high housing costs, infrastructure challenges, and lingering fear from the 2008 financial crash. Although data shows increased savings and assets, wealth distribution has become more unequal, with the top 20% capturing most of the recent gains. The episode highlights how global uncertainties and domestic pressures make the …
Topics discussed
Show introduction
Research on Irish household wealth and sentiment
Material wealth vs. feel-good factor
Historical context: Celtic Tiger to current uncertainty
Perception of savings and financial security vs. data
Why people focus on negatives despite economic gains
Cost of living, housing, and migration pressures
Wealth distribution inequality over the last decade
Impact of 2008 crash on current consumer anxiety
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