Vultures, Cuckoos and Shadow Banking: The New Threat to Ireland’s Property Market
Most reasonable people think of the place they live – a flat or a house – as their home – a permanent roof over their head. Generally, they rent their home from a landlord or they’ve bought it with borrowed money to be repaid over their working lives. One of the problems in Ireland is that those houses and flats are also seen by investors as particularly lucrative assets; ones which are performing comparatively strongly while interest rates are practically zero. This panel examines the funds which are sitting on or buying up vast quantities of Irish property and ask how and why they are artificially driving prices up and choking off supply to ordinary people who just want someplace to call home, and what can be done.