Conor D McGuinness: Accuses Government of Choosing Funds Over Families
Conor D McGuinness warned that government housing policy favours investment funds over ordinary families and renters. He said vulture and investment funds can buy nine houses without triggering the higher stamp duty and entire estates are then rented back at inflated prices while people search for homes.
House-buying threshold
McGuinness highlighted that current stamp duty rules allow vulture and investment funds to purchase up to nine houses without triggering higher rates, creating a loophole that advantages institutional buyers over individuals.
Effect on prospective homeowners
He contrasted that ability with the plight of a young couple in Waterford who saves every cent for a deposit, arguing that individual would-be buyers face far greater barriers to securing a home.
Rental market consequences
McGuinness said entire estates are snapped up by investment funds and rented back at inflated prices, and that families searching in vain for rentals are left without options.
Political criticism
He accused the government of choosing funds over families, stating that people know the policy priorities and their consequences for access to housing.
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While a young couple in Waterford saves every cent for a deposit, vulture and investment funds can buy nine houses without even triggering the higher stamp duty. While families search in vain for a rental, entire estates are snapped up and rented back at inflated prices. This government is choosing funds over families and people know it.
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