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Dublin: 15 °C Tuesday 23 April, 2019

Should the government buy houses back from vulture funds? The public is split

The master of the High Court said it could work as one of the solutions to the housing crisis.

Image: houses image via Shutterstock

LAST MONTH, THE master of the High Court suggested the government should buy back homes from vulture funds using compulsory purchase orders.

Edmund Honohan said legislation could be introduced to allow the State purchase these houses at the same price they were sold to the foreign investment funds. The properties could then be used for social housing.

A new poll shows 40% of the public would be in favour of this, while 33% are against the idea. More than a quarter said they didn’t know.

The findings are contained in a Claire Byrne Live/Amárach Research poll for that was carried out earlier today.

It asked respondents if they thought the State should be allowed to buy property through compulsory purchase orders from foreign investment funds below current market value.

Honohan has previously said American vulture funds in particular are used to this practice as there are laws in the US allowing for property to be taken back when it is in the public interest.

Support for the idea was highest among those 55 and over, with more than half saying they believe the State should be allowed to do it.

Read: Developers need more than €330,000 to build a single house in Dublin – here’s why>

Read: Housing crisis is “inhumane” says concerned Moyross priest>

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