New figures from the Department of the Environment and Local Government show that almost 50,000 families are waiting for local authority housing.
The numbers now waiting for a home of their own represents an increase of over 20% since 1999 as just 2,500 homes were built by local authorities during the year.
Fine Gael's spokesperson on housing, Bernard Allen, says the Government's priorities are out of kilter with reality.
"The Government seems to be obsessed with building national stadia, needles in the sky and refurbishing Minister's offices instead of providing housing for the people of this country, especially the young people."
He added: "To have an increase of 20% at a time of economic boom is unforgivable."