Can we get a vote on this in the Dáil? US Senator Introduces Legislation to Ban Hedge Fund Ownership of Residential Housing
Can we get a vote on this in the Dáil? US Senator Introduces Legislation to Ban Hedge Fund Ownership of Residential Housing
25 comments
Do you have or ever intend on having a pension?
No, because the gods of the free market must be placated.
Is there any evidence this will actually improve anything? Suppressing supply even further doesn’t seem very clever.
Why would they have a vote on something in the US? ^/^s
Not with FFG on the throne.
We have a few places to fight on this one if we are to change how the housing market operates. Obviously you need to fight speculation that’s what the OP is suggesting. The two other areas though I’d say need addressing is just commercial land ownership and also dereliction both of which drive up land prices which knocks on to house prices.
Radical idea would be land ownership I think it should follow the licensing model and if the land is unused the state takes it back. Only exception would be farmers for obvious reasons but it could be sorted out with zoning what requires a license or not.
How will government claim they built x amount of units then though?
I think banning them buying already built houses would be a good idea, but nothing should be there to stop them from building and then owning houses.
I’d be totally fine with a hedge fund building some great apartments even housing estates BUT there’s been plenty of incidents where normal people were expecting to have a chance at buying and we’re never even allowed as hedge funds offered immediate money. Don’t know who’s right or wrong there as developers say they need to sell to them in order to make money which kinda makes sense since most who went broke were owed millions for work that was completed before the crash yet some are obviously greedy and looking to make more and more profits and the country be damned for all they care 🤷🏻♂️
I wouldn’t trust the gov or the gov to hire anyone to look after this as am sure we’d get some kind of FAI John Delaney type guy tellin us everything is grand while they take bribes and offer contracts to friends. Really feel we’re screwed either way going forward would tax reduction for workers in housing sector for 10years help 🤷🏻♂️🤷🏻♂️ no idea but if we’re short staff there sure why not
Even the mere notion of that would make the government shit themselves in terror.
do you have any data behind the claim they are doing so in Ireland?
Like here in the US..I heard a rumour that our house has be bought by a hedge fund. It hadn’t. A friend of a neighbor bought it. Didn’t stop the rumours though.
De americanise and /r/RAAMACFYL
How about a law that all property must be owned by individuals (not corporations) resident in Ireland (or state owned). If you move away for more than say 5 years, you must sell all bar one property.
We need a rental market, and someone has to own them. I think they should be Irish owned. The idea that the profits from Irish land are directed out of the country I think is bad for all Irish people.
Perhaps someone with a greater understanding of economics than me can point out holes in that suggestion.
Anyone following this Georgeist land tax thing?
Don’t worry about it of the government have there way no private citizen will own a home.
How in the hell has this not been pushed as a matter of urgency in this country?
Yes we can have a vote and we know what vote would win.
It’d be a good idea to restrict it to pension funds and the like. Genuine long term investment funds.
I think the best idea is to favour time time buyers in every scenario.
A law that says that any home can only be owned by a financial institution for a set period of time, say a year, and that they must be sold to a person and not a business would allow hedgefunds to build and profit from houses without renting them forever, horsetrading them to other funds or sitting on them as capital investments.
The law should stipulate that if they haven’t sold the house within a year of acquiring it it must be sold at auction to the highest bidder. I imagine they’d need to also stipulate that they couldn’t sit on almost-finished homes either.
That would be a good idea. Hard one to legislate for I’d imagine.
A vote in the Dáil?
Sure our Taoiseach is about to change, for the 2nd time, without a vote by any of us
We definitely can’t, that’s FFG bread and butter support
Oregon represent! Shit is bad here and seems as if it’s getting bad over your way as well. Most 2 bedroom flats in Portland metro are $1500-$2500 depending on where you live.
The Dail can’t vote on legislation introduced in another country