{"id":1579,"date":"2021-05-16T09:36:03","date_gmt":"2021-05-16T08:36:03","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/"},"modified":"2021-05-16T09:36:03","modified_gmt":"2021-05-16T08:36:03","slug":"government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/","title":{"rendered":"Government must answer questions on State investment in cuckoo funds bulk buying entire estates"},"content":{"rendered":"<p><em><strong>The Minister\u2019s excuses for failing to answer questions are neither credible nor tenable<\/strong><\/em><\/p>\n<p>The Minister for Finance and the Housing Minister must come before the D\u00e1il this week and answer questions on the investment by the State of more than \u20ac700 million in cuckoo funds which are bulk-buying homes and putting them out of the reach of first-time buyers, according to Social Democrats Housing Spokesperson Cian O\u2019Callaghan.<\/p>\n<p>Deputy O\u2019Callaghan said:<\/p>\n<p>\u201cJust two weeks ago, Miche\u00e1l Martin told the D\u00e1il that the bulk-purchase of 135 homes in an estate in Maynooth by a cuckoo fund was unacceptable but unusual \u2013 because funds had never targeted a suburban housing estate before.<\/p>\n<p>\u201cToday we learn that not only have funds been bulk-purchasing homes in Maynooth since 2019, but that the State has been providing them the finance to do it.<\/p>\n<p>\u201cThe Minister for Finance and the Housing Minister must answer questions this week in the D\u00e1il and explain why State funds are being used to outbid first time buyers.<\/p>\n<p>\u201cReports today tell us that more than \u20ac700 million of State funds have been used to buy up homes in competition with first time buyers or to build homes that are sold to investment funds.<\/p>\n<p>\u201cThis week I asked the Minister for Finance to provide me with a list of the building projects in which funding from the Ireland Strategic Investment Fund was used, but he refused citing commercial sensitivity. Given what we now know, it seems likely his refusal to answer has more to do with government sensitivity than commercial sensitivity.<\/p>\n<p>&#8220;The ISIF is wholly owned by the Minister for Finance. It is unacceptable that it is investing in global funds which are snapping up homes that would ordinarily be bought by first-time buyers. The Minister\u2019s excuses for failing to answer questions on this practise are neither credible nor tenable.<\/p>\n<p>\u201cFor weeks, the government has defended the role of institutional investors saying we need private investment to deliver housing supply. What the Government failed to tell us is that the State is ploughing money into these funds to enable them to snatch up homes before they even come on the market.<\/p>\n<p>&#8220;First-time buyers were already competing with cuckoo funds. Now, it transpires they are competing with cuckoo funds that are funded by the State. What chance do they stand against competition like that? This has to stop before any more damage is done.<\/p>\n<p>16 May, 2021<\/p>\n<p>Ends<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Minister\u2019s excuses for failing to answer questions are neither credible nor tenable The Minister for Finance and the Housing Minister must come before the D\u00e1il this week and answer questions on the investment by the State of more than \u20ac700 million in cuckoo funds which are bulk-buying homes and putting them out of the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1499,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[278,10,7],"tags":[],"class_list":["post-1579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cian-ocallaghan","category-housing-crisis","category-press-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Government must answer questions on State investment in cuckoo funds bulk buying entire estates - Social Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/\" \/>\n<meta property=\"og:locale\" content=\"ga_IE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government must answer questions on State investment in cuckoo funds bulk buying entire estates - Social Democrats\" \/>\n<meta property=\"og:description\" content=\"The Minister\u2019s excuses for failing to answer questions are neither credible nor tenable The Minister for Finance and the Housing Minister must come before the D\u00e1il this week and answer questions on the investment by the State of more than \u20ac700 million in cuckoo funds which are bulk-buying homes and putting them out of the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/\" \/>\n<meta property=\"og:site_name\" content=\"Social Democrats\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/socialdemocratsireland\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-16T08:36:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.socialdemocrats.ie\/wp-content\/uploads\/2023\/09\/4475-366-scaled-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"ZOO Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@SocDems\" \/>\n<meta name=\"twitter:site\" content=\"@SocDems\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ZOO Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\\\/\"},\"author\":{\"name\":\"ZOO Admin\",\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/#\\\/schema\\\/person\\\/4aa25e1b0ecfe5e51a2ceab9a9006960\"},\"headline\":\"Government must answer questions on State investment in cuckoo funds bulk buying entire estates\",\"datePublished\":\"2021-05-16T08:36:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\\\/\"},\"wordCount\":419,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/4475-366-scaled-1.jpg\",\"articleSection\":[\"Cian O'Callaghan\",\"Housing Crisis\",\"Press Release\"],\"inLanguage\":\"ga-IE\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\\\/\",\"url\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\\\/\",\"name\":\"Government must answer questions on State investment in cuckoo funds bulk buying entire estates - Social Democrats\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/4475-366-scaled-1.jpg\",\"datePublished\":\"2021-05-16T08:36:03+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\\\/#breadcrumb\"},\"inLanguage\":\"ga-IE\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"ga-IE\",\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/4475-366-scaled-1.jpg\",\"contentUrl\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/4475-366-scaled-1.jpg\",\"width\":1920,\"height\":1280,\"caption\":\"Cian O'Callaghan TD\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Government must answer questions on State investment in cuckoo funds bulk buying entire estates\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/#website\",\"url\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/\",\"name\":\"Social Democrats\",\"description\":\"Change Ireland for the better\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"ga-IE\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/#organization\",\"name\":\"The Social Democrats\",\"url\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"ga-IE\",\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/SocDems-logo.png\",\"contentUrl\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/SocDems-logo.png\",\"width\":846,\"height\":358,\"caption\":\"The Social Democrats\"},\"image\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/socialdemocratsireland\",\"https:\\\/\\\/x.com\\\/SocDems\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/#\\\/schema\\\/person\\\/4aa25e1b0ecfe5e51a2ceab9a9006960\",\"name\":\"ZOO Admin\",\"url\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/ga\\\/author\\\/zoo-admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Government must answer questions on State investment in cuckoo funds bulk buying entire estates - Social Democrats","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/","og_locale":"ga_IE","og_type":"article","og_title":"Government must answer questions on State investment in cuckoo funds bulk buying entire estates - Social Democrats","og_description":"The Minister\u2019s excuses for failing to answer questions are neither credible nor tenable The Minister for Finance and the Housing Minister must come before the D\u00e1il this week and answer questions on the investment by the State of more than \u20ac700 million in cuckoo funds which are bulk-buying homes and putting them out of the [&hellip;]","og_url":"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/","og_site_name":"Social Democrats","article_publisher":"https:\/\/www.facebook.com\/socialdemocratsireland","article_published_time":"2021-05-16T08:36:03+00:00","og_image":[{"width":1920,"height":1280,"url":"https:\/\/www.socialdemocrats.ie\/wp-content\/uploads\/2023\/09\/4475-366-scaled-1.jpg","type":"image\/jpeg"}],"author":"ZOO Admin","twitter_card":"summary_large_image","twitter_creator":"@SocDems","twitter_site":"@SocDems","twitter_misc":{"Written by":"ZOO Admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/#article","isPartOf":{"@id":"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/"},"author":{"name":"ZOO Admin","@id":"https:\/\/www.socialdemocrats.ie\/#\/schema\/person\/4aa25e1b0ecfe5e51a2ceab9a9006960"},"headline":"Government must answer questions on State investment in cuckoo funds bulk buying entire estates","datePublished":"2021-05-16T08:36:03+00:00","mainEntityOfPage":{"@id":"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/"},"wordCount":419,"commentCount":0,"publisher":{"@id":"https:\/\/www.socialdemocrats.ie\/#organization"},"image":{"@id":"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/#primaryimage"},"thumbnailUrl":"https:\/\/www.socialdemocrats.ie\/wp-content\/uploads\/2023\/09\/4475-366-scaled-1.jpg","articleSection":["Cian O'Callaghan","Housing Crisis","Press Release"],"inLanguage":"ga-IE"},{"@type":"WebPage","@id":"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/","url":"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/","name":"Government must answer questions on State investment in cuckoo funds bulk buying entire estates - Social Democrats","isPartOf":{"@id":"https:\/\/www.socialdemocrats.ie\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/#primaryimage"},"image":{"@id":"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/#primaryimage"},"thumbnailUrl":"https:\/\/www.socialdemocrats.ie\/wp-content\/uploads\/2023\/09\/4475-366-scaled-1.jpg","datePublished":"2021-05-16T08:36:03+00:00","breadcrumb":{"@id":"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/#breadcrumb"},"inLanguage":"ga-IE","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/"]}]},{"@type":"ImageObject","inLanguage":"ga-IE","@id":"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/#primaryimage","url":"https:\/\/www.socialdemocrats.ie\/wp-content\/uploads\/2023\/09\/4475-366-scaled-1.jpg","contentUrl":"https:\/\/www.socialdemocrats.ie\/wp-content\/uploads\/2023\/09\/4475-366-scaled-1.jpg","width":1920,"height":1280,"caption":"Cian O'Callaghan TD"},{"@type":"BreadcrumbList","@id":"https:\/\/www.socialdemocrats.ie\/government-must-answer-questions-on-state-investment-in-cuckoo-funds-bulk-buying-entire-estates\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.socialdemocrats.ie\/"},{"@type":"ListItem","position":2,"name":"Government must answer questions on State investment in cuckoo funds bulk buying entire estates"}]},{"@type":"WebSite","@id":"https:\/\/www.socialdemocrats.ie\/#website","url":"https:\/\/www.socialdemocrats.ie\/","name":"Social Democrats","description":"Change Ireland for the better","publisher":{"@id":"https:\/\/www.socialdemocrats.ie\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.socialdemocrats.ie\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"ga-IE"},{"@type":"Organization","@id":"https:\/\/www.socialdemocrats.ie\/#organization","name":"The Social Democrats","url":"https:\/\/www.socialdemocrats.ie\/","logo":{"@type":"ImageObject","inLanguage":"ga-IE","@id":"https:\/\/www.socialdemocrats.ie\/#\/schema\/logo\/image\/","url":"https:\/\/www.socialdemocrats.ie\/wp-content\/uploads\/2023\/09\/SocDems-logo.png","contentUrl":"https:\/\/www.socialdemocrats.ie\/wp-content\/uploads\/2023\/09\/SocDems-logo.png","width":846,"height":358,"caption":"The Social Democrats"},"image":{"@id":"https:\/\/www.socialdemocrats.ie\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/socialdemocratsireland","https:\/\/x.com\/SocDems"]},{"@type":"Person","@id":"https:\/\/www.socialdemocrats.ie\/#\/schema\/person\/4aa25e1b0ecfe5e51a2ceab9a9006960","name":"ZOO Admin","url":"https:\/\/www.socialdemocrats.ie\/ga\/author\/zoo-admin\/"}]}},"_links":{"self":[{"href":"https:\/\/www.socialdemocrats.ie\/ga\/wp-json\/wp\/v2\/posts\/1579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.socialdemocrats.ie\/ga\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.socialdemocrats.ie\/ga\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.socialdemocrats.ie\/ga\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.socialdemocrats.ie\/ga\/wp-json\/wp\/v2\/comments?post=1579"}],"version-history":[{"count":0,"href":"https:\/\/www.socialdemocrats.ie\/ga\/wp-json\/wp\/v2\/posts\/1579\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.socialdemocrats.ie\/ga\/wp-json\/wp\/v2\/media\/1499"}],"wp:attachment":[{"href":"https:\/\/www.socialdemocrats.ie\/ga\/wp-json\/wp\/v2\/media?parent=1579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.socialdemocrats.ie\/ga\/wp-json\/wp\/v2\/categories?post=1579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.socialdemocrats.ie\/ga\/wp-json\/wp\/v2\/tags?post=1579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}