The President was speaking at the opening of a supported residential facility for young homeless adults in Co Kildare when he said: "Housing and the basic needs of society should never have been left to the market place.
"It is the mad speculative money that is destroying our country, which we are welcoming, which we shouldn't be."
Ireland's most expensive houses and apartments to rent right now are being offered for figures ranging from €10,000 to €15,000 per month.
Two apartments in separate locations in Dublin are at the top tier level of €15,000 a month, while there are also three houses for rent in the capital costing from €10,000 to €12,000.
One of the €15,000 a month apartments is a penthouse in Dublin's tallest building, the 23-storey Capital Dock residence on Sir John Rogersons Quay and includes two double bedrooms and three bathrooms.
The top floor penthouse at the Hailing Station, which includes a concierge service and boasts panoramic views of the city, features controlled lift access, double height living space with floor to ceiling windows, an enclosed winter garden and air conditioning throughout.
The master bedroom features a walk-in wardrobe and a spacious ensuite marble wet room.
Ireland's priciest house for rent is a Victorian three-storey period home on Palmerston Road in Rathmines and is on the market for €12,000 a month.
Its owners appear to want to rent their property for much of the summer and the house is available from the beginning of July until the middle of September.
Accommodation of 2,873 sq ft/ 266.9 sqm over three levels includes four reception rooms.
The ground floor has an immense open plan lounge with feature stove fire, kitchen and breakfast room leading out to a maintenance free rear patio garden.
On the first floor are a further two interconnecting large reception rooms boasting high ceilings, inviting the natural light through the house.
The large family bathroom offers fantastic natural light. The bedrooms are well proportioned whilst the main bedroom has a walk-in wardrobe and ensuite.
To the front of this period home lies a gravelled driveway with room for two cars.
A house for rent for €10,000 a month at De Vesci Terrace in Monkstown has six double bedrooms and four bathrooms with secure parking and a large garden.
Originally built in 1838, the house is a beautiful mix of old and new, with period features throughout, including sash windows, feature fireplaces and chandeliers.
On entry, visitors are greeted by an imposing entrance hall.
To the right is a double reception room with bay windows, two fireplaces and extremely high ceilings.
On the same level is the large kitchen/dining area.
The kitchen itself is of high quality with a large American style fridge/freezer, dishwasher, built in cooker/microwave oven, large island, fireplace and chandelier.
From the entrance hall, residents can go down to the refurbished lower ground floor.
On this level they'll find two bedrooms, another very large, bright reception room and a fully functionally utility room, complete with separate washing/drying facilities and sink.
There are two bathrooms on this level both with showers. Upstairs are the remaining four bedrooms, all of which are very large and bright.
The master bedroom is on this floor and includes built-in wardrobes, a separate walk-in wardrobe and a beautifully presented four-piece ensuite.
At the back of the property is a garden with artificial grass. There is also a separate one-bed one-bath out-house included with a large storage room, with parking out the back.
Another house on the market for €10,000 a month is located at Ashfield Road in Ranelagh.
It is a three storey Edwardian home located in the heart of Ranelagh village and it appears to have been sold recently for €775,000.
On the ground floor there is a large open plan bespoke kitchen/dining room with polished concrete floors incorporating an island with Cosentino countertops and feature backsplash.
There is a paved rear garden accessed by large Crittal door screen from the kitchen.
On the first floor there is a single room, carpeted with a window seat and built in shelves, and a master bedroom with an original fireplace and walk-through closet and ensuite.
On the second floor are two double bedrooms and a large bathroom with walk in shower.