Nomenclature of "Cuckoo Funds"

It's the national broadcaster taking a political stance through its words and choices on what to report. Personally I'd prefer if they were to only use correct language and let the more tabloid style reporters use the rhetorical terms.

MooShop wrote: »

It is strange, I don't know where the term appeared from. I distinctly remember these funds being labelled as 'vulture funds' a few years ago when they came to prominence.

The vulture funds were buying up all distressed assets that nobody wanted - feeding off the carcass of the economy. The cuckoo funds are swooping in and buying up houses that were intended for other people - like a cuckoo stealing another birds nest.

StupidLikeAFox wrote: »

The vulture funds were buying up all distressed assets that nobody wanted - feeding off the carcass of the economy. The cuckoo funds are swooping in and buying up houses that were intended for other people - like a cuckoo stealing another birds nest.

Though the same funds involved!!! ðŸ˜ðŸ˜‚

The problem is that they are conflating this case in Maynooth with a REIT which is not the case.
Frankly this behaviour by the media is unhelpful. The state literally can't borrow the money to build the housing so other vehicles are needed.

As for Vulture funds. Vultures actually play an important role in ecosystems - getting rid of dead animals and reducing disease spread that way. Much the same "Vulture funds" helped pick off the worst of our banking crisis and helped restore some element of our banking sector. So actually a fair disruption if people really thought it though

The real problem is that housing is a complex multifaceted challenge. The desire to identify one bogeyman to blame everything on is strong when stakeholders like
- mortgage deliquents (and there are a fair few) don't want repossessions,
- property owners (who vote) want the price of their property steady or to go up, Include media and property supplements here.
- some folk think they have a god given right to live within 1km of where they grew up,
- landowners have built in constitutional protections since forever because "the brits evicted us" regardless of irony,
- A large cadre don't want to pay for services or property tax so local authorities cannot pay for creating serviced land other than massive levies passed onto, you've guessed it, new home buyers.

It's a very sad situation for new home buyers and represents some breakdown of the social contract. But just like 2008 instead of blaming "the bankers" despite voting in Bertie three times in a row, perhaps the electorate should have a long look at itself. Unfortunately it's more likely that SF will do well with their populist messaging which the others will be forced to join into and the next Irish crash will be set in motion.

Cuckoo fund seems to be an Irish term, coined probably 5-10 years ago by an Indo journalist. While the term Vulture fund is used abroad