There used to be an extremely high mark that had to be held before a judicial review, after An Bord Pleanala approved a planning decision. Most planning decisions gone to Judicial Review has been overturned. Two Judges residing over these planning decisions are causing havoc.
So, the experts, a board, who have approved the planning of a development, are told that they dont know what they are talking about, or possibly due to the smallest legal issue, over timing of a bat survey, which both parties may agree on but still gets overturned. It madness.
Darragh O’Brien has also fucked things up with his last bill. Developers are now stepping back from deals due to his planning and tax measures.
the real problem is the government has bent over backwards to enable vulture funds to profit here, even changing legislation to allow it and sneaking it in with covid measures.
vulture funds can now kick out people renting houses, if the developer or government agency has sold the debt. On no level is that correct.
There are families in the estate behind me on notice and with things the way they are, there are no houses in the locality for them to go to. It’s a fucking disgrace
I was just pointing out that it is a landlord’s market. Just because some people are choosing to exit does not make this not so. I’m not sure what your point is?
It’s not a “landlords market” for small private landlords (including the accidental ones I referenced). If it was they wouldn’t be leaving or they would be replaced by other small private landlords (See actual factual data as opposed to your gut feel or a Facebook post of whatever) That’s pretty much economics 101.
It may be the case that it is an attractive market for institutional landlords (who back to my Econ 101 reference and actual datapoint are entering the market).
But that only reinforces my point about the accidental ones looking to leave.
That’s a nonsense and there is no logic to what you’re saying.
Landlordism is very lucrative right now, maybe these people need the capital for something else but there is serious money to be made by being a landlord now.
You’re the one arguing its an attractive market despite clear evidence that people are leaving it. I’m fairly comfortable that the “specious reasoning” isn’t starting with me …
Is it fair to sum your argument now as “It’s a really really attractive market but people are leaving it because of some undefined other factors that mean its still really really attractive but they just don’t want to benefit”?
House prices are high again for sale and there is a huge demand for purchasing. People will sell for profit now and clear their own debts, especially with interest rates and inflation looking cagey
A lot of people have been sitting on properties for 10 years bought in the downturn. Its peak time now to pick those cherries
To follow your point through - why aren’t the ones who “need capital for something else” (which is more attractive?) being replaced by others who see the potential for “serious money”?
They are by institutional investors but the data shows that they are not by private investors.
Yes but he’s saying people are getting out of landlordism because it’s not lucrative, that is false.
People might have their own present needs to get access to some capital, maybe move to a bigger and better house, maybe do a renovation on their family home, maybe finance their own children buying or upgrading their own home. All that means is they need the money up front, rather than landlordism is not profitable.
Somewhat backing up my point that there is a cohort out there who ended up with these investment properties by accident and are keen to get out when they can having already been stung.
