I see no other explanation for the way that housing market things are in now.
The initial tranches of apartment blocks sold off by NAMA must have had associated and binding assurances from the government/NAMA to keep new home building at snail pace. Who would buy these blocks without this assurance ?
Then, seeing such great returns and no more apartments to buy, the vultures reason that new homes in a tightly supplied market would be just as good a punt.
There's simply no other plausible explanation.
Rory Hearne makes some vacuous comments about government policy in this regard but this is an absurdity: what else could be the rationale for such a policy if not to clear the path to offload property debt created by an older generation and charge it to the next ?
I suppose the Sinn Feiners want plausible deniability on this matter in the event that they become the major party next election and have to lead a government. Like Fine Gael in the old days, they'll pretend that they had no idea how little funds the previous government had left - so they just row back on election promises and put them on the long finger "till the economy picks up" . . .
The initial tranches of apartment blocks sold off by NAMA must have had associated and binding assurances from the government/NAMA to keep new home building at snail pace. Who would buy these blocks without this assurance ?
Then, seeing such great returns and no more apartments to buy, the vultures reason that new homes in a tightly supplied market would be just as good a punt.
There's simply no other plausible explanation.
Rory Hearne makes some vacuous comments about government policy in this regard but this is an absurdity: what else could be the rationale for such a policy if not to clear the path to offload property debt created by an older generation and charge it to the next ?
I suppose the Sinn Feiners want plausible deniability on this matter in the event that they become the major party next election and have to lead a government. Like Fine Gael in the old days, they'll pretend that they had no idea how little funds the previous government had left - so they just row back on election promises and put them on the long finger "till the economy picks up" . . .