Maybe they should sell the house? Property prices are near peak levels now so if they are reluctant landlords they can easily cut their losses.
Maybe theyâre not actually that âreluctantâ though.
1 Like
In many cases they canât sell the apartment until the construction defects are resolved due to difficulty for a purchaser to secure a mortgage on it
Many cases or few cases?
Back of a fag box stuff but I think peoplesâ homes should be rectified. Again, the principle here is that the state failed these people by failing to regulate and so the state has to own responsibility for that.
Iâve already said I think jangle mail should be introduced. Under this a mortgage holder can return the property to the bank and walk away from the debt, that sorts out all the negative equity investors. Irelandâs mortgage rules whereby the mortgage debt follows you around forever unless you are bankrupt are a nonsense.
Well seeing as the issue we are talking about is gov providing redress for properties with construction defects then Iâd say many of those properties which are affected by such defects come under this.
Obviously properties that donât have defects donât have that issue but then thatâs not what weâre talking about.
The figures clearly show though a significant exodus from the rental market of private investors. Iâd suspect the majority of those are âreluctant landlordsâ who bought Celtic tiger properties to get on the ladder etc and have spent 10-15 years looking to get out.
Iâd argue that the vast, vast majority of landlords are not reluctant landlords.
They are landlords because the out of control rental market, driven by FFG housing policy has made landlorism a very, very lucrative avenue for the well heeled who have access to capital. This is why Iâd only make any full cost redress for building defects available the owner occupiers and people who do not own multiple properties.
Can anyone explain to me how the Manufacturers of these defective blocks are getting off Scott free here whilst the taxpayer now has to stump up for privately purchased homes?
6 Likes
Lack of regulation from FF/FG.
surely this one for the shinners military wing to have a âquiet chatâ with the cassidy lads as well a total embargo on cassidy getting any state work and have regulators inspecting every single block that leaves their works, if not shuttng down the entire operation
1 Like
Thatâs clear.
Why has the manufacturer not been asked to contribute? Has the said supplier gone bust or are they still trading?
These cunts are still trading??
Lack of regulation.
If there is no law in place or the regulations are easy circumvent then there is nothing that can be done.
The usual shite, close down and then open up under another name. Worst decision was allowing the construction industry to regulate itself.
Yep and have a deal with Donegal CoCo to provide materials for public projects.
Where have you been living for the last 30 years,in the FFG world theses boys always get off and the taxpayer foots the bill.
1 Like
EhâŚ. Wtf?
If they manufactured the blocks they are liable for defective produce surely?
Theyâre a limited company.
Itâs not that hard to grasp.
Itâs lack of regulation, if the regulation isnât there then what legal means are there?
corporate veil can be pierced
1 Like
who makes these regulations i wonder