Madam, - Much has been said and written about the alleged dangers to the housing market, particularly the rented sector.
It has been suggested that the supply of apartments will dry up as builders get out of that sector or get out of the business altogether.
The cost of building materials and labour has scarcely increased in recent years. The price of new houses and apartments has increased because landowners are making more money and builders are making more profits.
There have been many examples in different parts of the country where the first house built in an estate was substantially cheaper than the last house. Nobody can seriously suggest that the cost to the builder has increased significantly in the meantime.
What has happened is very simple: builders have taken the opportunity to make a windfall profit. They have made a killing.
Shame on them when there are so many families struggling to buy a home. - Yours, etc.,
Cllr NOEL COLLINS,
St Jude's,
Midleton,
Co Cork.