Referring to Dublin, Ireland. A speech in the Irish parliament.
Quote:"Six out of seven homes in this city are apartments and 95 percent of them have been bought up by institutional funds.
"They are able to do that because you and you Government, and your time as Taoiseach, introduced sweet heart deals that the sky-high rents of two-and-a-half thousand that they charge ordinary hard-pressed families
https://www.express.co.uk/news/politics/...se-doherty
Sounds like the same crap is going on everywhere in the West.
Cheers
All these people selling their homes may regret it later when they realize they can't afford the monthly rent their new overlords are going to charge them. I see a much larger homeless community in the future.
(07-03-2021, 10:30 PM)Mystic Wanderer Wrote: [ -> ]All these people selling their homes may regret it later when they realize they can't afford the monthly rent their new overlords are going to charge them. I see a much larger homeless community in the future.
It's already happened to some - buyers come in and buy entire neighborhoods at 20 to 50% over the fair market value of the properties, dumbasses jump on that deal because they are greedy, and only later find out they can find no place to live without renting, and that the rent is two to 3 times what their mortgage was.
Their buyers need to stay away from here - way too many places to hide bodies if they come in to annoy us.
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Definitely an international phenomena.
I wonder what happens when people cannot afford the rents they will inevitably ask? You don't corner the market to become benevolent in your pricing.
Or do you buy everything up because you know something else is afoot?
