Galway Bay fm newsroom - New figures reveal that the average monthly rent for a 3-bed home in Galway is now nearly €200 more expensive than a mortgage.
It's after a report published by Threshold today reveals a significant rise in calls from tenants facing eviction.
Meanwhile, a row broke out in the Dáil earlier over the crisis - with Leo Varadkar described as a Roman Emperor presiding over the burning of Rome.
New figures from My Mortgages.ie reveal that the average cost of having a mortgage on a 3-bed home in Co. Galway would set you back around €600 a month.
That's actually almost €200 cheaper than renting the same property - which would cost around €785.
It's a bleak connundrum for many renters - who are struggling with spiralling rents but cannot qualify for a mortgage - and the gap is ever widening.
Galway City was designed as a Rent Pressure Zone in January 2017 - which aimed to cap inflation at 4 percent.
However, in a national annual report published today, Threshold notes that by the end of December, inflation in the city had risen to 8.5 percent.
The issues of homelessness and spiralling rents were raised in the Dáil this afternoon - where a fierce debate broke out over the housing crisis.
Sinn Fein Deputy Mary Lou McDonald compared the Taoiseach to a Roman Emperor fiddling while Rome burns in the background.
Leo Varadkar wasn't impressed - and accused her of weaponising the homeless:
But the Taoiseach says there needs to be a balance between rights for landlords and tenants.
Meanwhile Housing Minister Eoghan Murphy says he's looking to introduce new laws to punish landlords who break or exploit rent caps:
And Minister Murphy says reports of homeless people being forced out of hotels to make room for guests this Christmas is scaremongering:
The proposed new rent cap laws along with other measures to protect tenants are to be brought before Cabinet next week.
