'Locked out' - first-time buyers gazumped by investors

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As multinational investment firms snap whole swathes of housing estates, first-time buyers will find it harder to get on the property ladder, explains LouiseByrneNews rtept

The three high-vis wearing individuals were polite, but insistent. Mullen Park housing estate in Maynooth, Co Kildare, is still private property and we, unknowingly, had strayed from a public path onto the private development.

She said there is significant demand in the local area from first-time buyers who can’t compete with institutional investors. Round Hill told Prime Time it was "committed to investing in Ireland to increase the supply of quality homes available to rent, working alongside local developers and agents." "Institutional landlords are being painted as big vulture funds that are coming in, but they're trying to help the housing crisis," he said.

"If the funds weren’t here, the housing crisis in Ireland would be in a lot worse situation than it is in today." "We're used to disappointments at this stage like being outbid and not having the supply and the locations that we want.

 

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LouiseByrneNews We can put limits on the amount of toilet paper, bread and bottled water people can buy but in a housing crisis nothing can be done about foreign capital buying resources to rent and dominating the market

LouiseByrneNews See you next Tuesdays

LouiseByrneNews Keep voting ff/fg

LouiseByrneNews How do you save for a house? With C-19. I am sure people have been using there savings.

LouiseByrneNews Investment companies and multi national should not be allowed to buy large swathes of houses or apartments. Young families or singles should be given first refusal on any development before allowing investment firms in. Limit the number of houses they can buy. fiannafailparty

LouiseByrneNews I urge everyone to lobby their local TDs today. We cannot be complacent about this kind of purchasing taking place under our noses. Our children's houses are not for the highest bidder.

LouiseByrneNews Why is this allowed for fuck sake?

LouiseByrneNews Can't help but think of Luke Kelly and what he would think.

LouiseByrneNews Government needs to give people other housing solutions and options. We're in 2021!! There're a large range of house solutions. Just give people the choice!

LouiseByrneNews Where's the great EOBroin now when the heavy hitters are coming to town to suck up all the real estate like bloody henry the hover. No where ,sinn fein quite happy to let the goverment of the day scott free. This country will be the new jersey ,mark my words

LouiseByrneNews Unbelievable that this is allowed to happen. Planning should stipulate sale to individuals only for first 7 years.

LouiseByrneNews Leo the leak should know he is involved in the great reset

LouiseByrneNews Here’s a map of the locations where all these vulture landlord scumbags have bought up all the housing👇

LouiseByrneNews Rent strikes and boycott.. Learn from the past.. Land League and Absentee Landlords.. Drive these fockers out.. Complete Community action can be effective... But remember, the Gardai and hired security will crack skull with relish, that's why they were hired...

LouiseByrneNews Disgraceful.

LouiseByrneNews DarraghOBrienTD MichealMartinTD this is disgraceful

LouiseByrneNews A major story since yesterday and it’s Buried at the end of todays news cycle. Didn’t appear on site until 11minutes ago while the “good news” housing announcement got some breathing room.

LouiseByrneNews This is not right. These “investors” should be blocked.

LouiseByrneNews Horrid little country this is turning to

LouiseByrneNews The minister was in the studio today & you didnt ask him about it

LouiseByrneNews World Economic Forum, 'you'll own nothing and you'll be happy. Anything you want you'll rent' The Great Reset Folks!

LouiseByrneNews This is no surprise, this is what was happening after the crash. The government set up NAMA, and sold thousands of properties in tranches of billions to Investment firms/vulture funds, wake up. No oversight because no one cares.

LouiseByrneNews Disgraceful that these mega investors can come in and destroy whole communities with greed. Worse our own government allow it after all 'we are all in this together 'sheer rubbish.

LouiseByrneNews The same thing is happening in the States.

RTE_PrimeTime LouiseByrneNews There wont be too many statues put up to Michael Noonan

LouiseByrneNews First time buyer: Mortgage at 2.6% (Credit cost ~50% of the loan value). Repays from post-tax (40%) income. Financial trouble = bank takes home. 0 tax credits. Fund: Capital at ~0%, able to write off interest as an expense. Taxed at 12.5%. If fais = taxpayers bailout.

LouiseByrneNews If there is no way to stop this ( and there should be, so get on it ) do what Canada did. Foreign owned residential homes are taxed to the nines. Impose yearly property tax of $25 K for each home.

LouiseByrneNews Tax. That’s the way to stop intuitions profiting from hard pressed renters. The rent is more than the mortgage so it’s a win win for those with cash to invest. The Gov could stop this through taxation but given the amt of landlords in Dail that’s unlikely to happen.

LouiseByrneNews MichealMartinTD this is on your watch. You have the chance to sort this but instead pretend it's not happening.

LouiseByrneNews Ireland has sold its soul!

LouiseByrneNews Hardly needs explaining. Needs sorting.

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Varadkar says outright ban on investment funds buying homes would be a mistakeLeo is facing intense scrutiny to put a stop to “bloodsucking” cuckoo funds locking first time buyers out of the market How's the intense scrutiny doing on his criminal investigation and why he is not suspended from government while being investigated is disgraceful if that was an opposition party leader FF and FG would be demanding dismissal or sacking This Govt, should be building low income housing for young families- and stop this vulture greed
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Govt further examining investment fund housing issueThe Taoiseach has pledged that the Govt will immediately deal with what he termed the 'unacceptable' situation where first-time buyers are being forced to compete with institutional investors for homes As if he didn't know already.... Been happening for years 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 Crazy situation
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