When we observe the yield on housing rising, some might be tempted to see that as evidence of a tilt in power away from labour and towards capital. But instead, it is a reflection of a housing system – and in particular a rental system – that is short on supply.
The US firm has been the most active property investor in Ireland for the past decade. As it builds out its last available sites, it is up around €1 billion on its investments here and generated €100 million in net rental income last year. What is next?
The first of a three-part investigation explores all the residential properties the US investor has bought, built and sold, for how much and with whom.
As the evictions ban ends today, the Irish and French governments appear to have each picked an issue and decided to lose the next election over it. The consequences will extend beyond political calculations.
There is a myriad of problems with accommodation in Ireland. Recruiters and employers are now navigating their way through it all by partnering with property professionals.
We know we need homes. The question now is whether the State will take on the roles needed to make those homes a reality.
Beyond housing, our approach to saving and investment is primitive and punitive. Given that so many younger people are locked out of the housing market, we need to change our policies to encourage people to save, invest and build pensions.
While Ireland is well used to institutional investors purchasing entire apartment blocks, there has been little history here of American-style corporate landlords aggressively competing in the open market to assemble portfolios from once-off home purchases. Until now.
Meredith Greif is a sociologist at Johns Hopkins University. She spent two years interviewing more than 100 landlords to learn why they treat tenants the way they do and how the system could improve for both.
For decades, Government policy has been to outsource social housing to private landlords while telling them that they needn’t bother with common public supply transparency obligations. This is coming back to bite one of their own.
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