The Central Bank has opted not to change mortgage lending rules.

The decision means first-time buyers will remain limited to borrowing no more than three-and a-half times their income, and they must be able to afford at least a 10% deposit on their home.

Do we now have a generation of people who have been priced out of the housing market, and who may never be able to afford to buy a house?

Michael Dowling, Managing Director of Dowling Financial, Eilis Ryan, North Inner City Councillor with the Workers' Party, architect and policy commentator Mel Reynolds, USI Deputy President Oisín Hassan and Karl Deeter of Irish Mortgage Brokers discussed the issue as part of our Monday debate.

Eilis Ryan says: "We have a decision to make — either we fix the housing crisis by re-inflating the property bubble or by moving away from home ownership and towards home security."

To catch the full chat press the play button on the image on the top of the screen