We don’t live in apartments… we live in towers of money

To add to the odd times we are living in, the most sense on the Irish economy is talked by a guy with a shopping bag on his head.

Blindboy is one of the Rubber Bandits. Rubber Bandits are a comedy art duo from Limerick who rose to fame with their classic anthem Horse Outside.

Here he is talking to Tubs on the Late Late Show:

Much has been talked about how property in London is basically piggy banks for the world’s rich. To quote from a Guardian article last year:

London needs homes, not towers of ‘safe-deposit boxes’
Too many new properties in London are simply designed as places for the super-rich to park their cash

We are no stranger to property funds here in Northern Ireland. They have also been very active in the Dublin market. It is fine when they stick to office space but when they start affecting the price of the consumer market the government needs to intervene. Of course they won’t, the lure of the money men is too strong.

It is astonishing that in less than 10 years the Republic has forgotten the lessons of the last property crash. Plus ça change…

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  • ted hagan

    The Republic deserves all it gets after voting in the same, staid old parties at the last election.despite commentators like Fintan O’Toole trying to convince us that everything had changed forever and that some sort of revolution was taking place. Bullshit.

  • NMS
  • John Collins

    Ted
    For the most part what were the alternatives? The likes of AA, PBP and SF all engage in cuckoo economics and God help us when the likes of the Healy_,Raes are elected.

  • doopa

    I disagree that property funds shouldn’t be involved in the private rented space. Who do you want to be providing rental accommodation? The tories are posed to clamp down on the casual landlords in the UK, something that is long overdue. Bringing professionalism and scale of operations to the rental market is a positive move. For too long the rental market in NI has been run by part-time amateur landlords leaving properties in an embarrassing state.

    More incentives to set up larger/easier housing cooperatives alongside the property funds would be another welcome move.

  • Brian O’Neill

    I get your point. I plan a post on student housing in Belfast. Professionally run student accommodation is welcome.

    But for the general housing market it is not fair that ordinary families can be outbid by either amateur landlords or the big players.

    Housing benefit is just a massive government subsidy to middle class amateur landlords.

  • doopa

    Out of curiosity – do you have a number on the % of the housing market that is made up of the ‘ordinary family’? Should the whole market be geared towards their needs?