Taoiseach Micheál Martin has pledged that the Government will immediately deal with what he termed the "unacceptable" situation where first-time buyers are being forced to compete with institutional investors for homes.
The issue of investor funds has triggered much unease in both parties and across the entire Government amid deep political fears of rising public anger on the matter. Consideration is now being given to a number of options aimed at discouraging major investors from buying housing estates. There is particular concern that newly available homes are being bought by institutional investors and then in some cases leased back to local authorities.
EamonRyan morningireland Shutting the barn door after the horse has gotten out . We knew years ago hotels were buying up homes to rent out as airbnb but government did nothing, just watched the Irish homelessness skyrocket Let's starting taxing airbnbs heavily to pay to put homeless in homes
EamonRyan morningireland I don't know, but it's not widespread? Either he knows or he doesn't, it sounds like he doesn't. The 'not widespread ' sounds like wishful thinking.
EamonRyan morningireland This is very simple. The electorate want their representatives to act in a definite manner with real results. We are fed up. The property market is the biggest curse on this country. Celtic Tiger, 2008, now this crap. If it were a person it would, ironically, be in prison by now.
EamonRyan morningireland Go back to sleep Eamon, you are definitely not awake to reality with a gaff like that
EamonRyan morningireland When it comes to Energy consumption, alcohol price, hate speech etc they’ll rush through legalization without consultation but when it comes to providing the buyer with protection from international funds then “Oh well we’ll look into that”
EamonRyan morningireland Yeah, sure they have Eamon. Ireland GreenParty Spin Homelessness HousingCrisis FiannaFail FineGael
EamonRyan morningireland Bring forward legislation then. Have it tested before the courts.
EamonRyan morningireland No doubt everyone trying to buy a house or climb the property ladder will be impressed by the fact he stayed awake 🤔
EamonRyan morningireland Well that's reassuring.... not! Just do it ffs you'll still be talking about this next year
Level the tax playing field. Cut the tax breaks for vulture funds and they will soon move on.
The word compete here is wrong. These houses were bought up before they even went to market.
'Immediately'? That means about 10 years in your speak
Your reporting on this is pathetic. You allow him to come off with this shite like FFG aren’t and haven’t been in govt for yrs. You lot are a huge part of the problem. Lackeys and stooges
Another unintended consequence of government policy. They are destroying our children’s future.
Seems govt has absolutely no housing strategy and is bobbling about adrift on the waves and directed by any which way the wind blows.
Spose lock em down in hotel quarantine....like like like they'd be housed like like u now.....turners cross dialect...
Laws maybe subject to a legal challenge. Surely the tax code is the way to go here. Tax all resendentental income above say 50K a year at 75% and limit the reliefs allowed at 50k per beneficial owning legal entity. Problem solved surely.
I think I speak for everyone when I say. 'He will in his hole'
The reality of what will happen in these estates. Rents too high, families won't rent here, you'll have houses with 8 people living there, all working, with 6 cars parked outside. Institutional landlords paying fuckall tax, no money back to the state. Shocking
I bet they will still find a way to look after the Vultures.
“Further examining” is a great phrase for wiping his arse with the information.
I’m really not sure if Legislation can be introduced to stop these developments being sold to a particular person or body. Can we really have Laws which say we can buy from and sell to. One of the big things for me is that proper tax on rental income is paid and collected.
Ridiculous talk, they will do something!!! Bullshit. Why do these vulture funds not have to pay any tax on the rent they receive but ordinary so called landlords have to ? This systems is helping to ruin our country,consecutive ff/fg gov have created this mess, no one else.
So invite investors in with Reit incentives & then call them vultures after they start risking their capital. Govt going from one absurdity to another.
Crazy situation
Amazing what will be promised to win people over
When tho? Next year? Next century? Progressive government have made a balls of the housing situation. Once housing the population was handed to private builders greed set in. Simple really
As if he didn't know already.... Been happening for years