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Councils and Charities just as guilty as Vulture Funds

  • 21-02-2022 6:35pm
    Registered Users Posts: 75 ✭✭ Amias

    Vulture funds getting a lot of slack for buying up whole streets and even estates of turn key houses.

    Councils and Housing Charities like tuath housing have done the exact same in my area buying up full streets of turn key new builds.

    why should Vulture funds get such a bad rap when councils and charities do the same?


  • Registered Users Posts: 35,655 ✭✭✭✭ Gatling

    Social housing ...

    Langley, Virginia


  • Registered Users Posts: 24,649 ✭✭✭✭ Mrs OBumble

    I'd far rather own in an estate where a vulture fund owns over half the properties than where the council or a charity does.

    At least the former are likely to make value-based decisions than political ones.

  • Registered Users Posts: 252 ✭✭ jo187

    Just be honest you be afraid the value of your house will go down. But sure you're ok, hell with everyone else.

  • Registered Users Posts: 75 ✭✭ Amias

  • Registered Users Posts: 75,797 ✭✭✭✭ Atlantic Dawn

    Councils bidding against buyers for single houses occurs to, this drives up prices for home purchases and in turn schemes like HAP increase the price of rents which also in turn increases prices of houses.

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  • Registered Users Posts: 252 ✭✭ jo187

  • Registered Users Posts: 2,326 ✭✭✭ Yellow_Fern

    I dont see any moral issues in being against council housing.

  • Registered Users Posts: 252 ✭✭ jo187

    Can't see why your against unless you think it will bring in a bad crowd and lower the value.

  • Registered Users Posts: 4,636 ✭✭✭ Xterminator

    vulture funds = rent out at the very highest possible rate to people who can afford it, with the goal of maximizing profits for shareholders.

    councils and charity = fair rent is set on a sliding scale based on assessed income, with the goal of providing a social services to the people of Ireland.

    just as guilty - sure.

    OP seem to forget he (or a loved one) could get very ill or be laid off, and become one of the people who needs social housing. Anecdote: My friend had to quit his job to be his wives carer. went on the social housing list, and finally got a forever home. Rent is fair based on the income.

    OP thinks his family unit is the enemy? OP sif you really think that you should join the tory party, as they have a penchant for hating on those who are less well off. Let the right wing media tell you they are all scroungers, all gaming the system, and none of them pay their rent etc. Its just the establishment telling you who to hate/fear.

    the guy who need social housing is not the enemy. if the social housing system is flawed fix it. but don't tell me everyone in social housing is committing fraud/gaming the system etc. because its not true.

  • Registered Users Posts: 75 ✭✭ Amias

    Explain how any of your post helps a person buy a turn key home?

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  • Registered Users Posts: 6,435 ✭✭✭ Jinglejangle69

  • Registered Users Posts: 464 ✭✭ Smouse156

    Most can’t afford it! Hence why Dublin is filled with rent slaves - working solely to enrich the landlord.

  • Registered Users Posts: 26,562 ✭✭✭✭ Dempo1

    It's a reasonable question OP but it's actuallybCuckoo Funds buying up properties.

    I suspect Cuckoo funds don't bother to much with properties charities and local authorities chase.

    Vulture funds however will take anything, especially distressed mortgages at substantial discounts. One "Charity" doing nicely in terms of building up quite an asset portfolio porports to "Help People stay in their Homes" as long as they agree to surrendering their home and pay rent for the rest of their lives. The main entity should be re branded to calked "The Former Irish Mortgage Holders Association"

    Is maith an scáthán súil charad.