{"id":1774,"date":"2022-02-09T10:13:34","date_gmt":"2022-02-09T10:13:34","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/government-to-blame-for-cuckoo-funds-snatching-homes-from-families\/"},"modified":"2022-02-09T10:13:34","modified_gmt":"2022-02-09T10:13:34","slug":"government-to-blame-for-cuckoo-funds-snatching-homes-from-families","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/government-to-blame-for-cuckoo-funds-snatching-homes-from-families\/","title":{"rendered":"Government To Blame For Cuckoo Funds Snatching Homes From Families"},"content":{"rendered":"

The cuckoos have come home roost \u2013 because the government incentivised them to come here<\/strong><\/em><\/p>\n

Cuckoo funds outbidding ordinary buyers for family homes by up to 32pc is a direct consequence of government policy, according to Social Democrats Housing Spokesperson Cian O\u2019Callaghan.<\/p>\n

\u201cYoung workers and families don\u2019t stand a chance when they try to buy a home. Cuckoo funds with deep pockets are paying up to 32pc more for properties than households. This equates to a premium of more than \u20ac100,000 per home.<\/p>\n

\u201cFunds are not just buying properties in the build-the-rent sector \u2013 which the government has deliberately designed to lock out first-time buyers. Last year, cuckoo funds spent \u20ac2.27 billion snapping up nearly 5,000 homes for the private rented sector.<\/p>\n

\u201cThey were actively encouraged to do this by the government, which last year slashed stamp duty rates for cuckoo funds that lease properties back to local authorities. At the time, the Social Democrats warned this tax cut would destroy ordinary buyers\u2019 dreams of home ownership. The government did it anyway.<\/p>\n

\u201cOn Monday, a government Minister said people should \u201cstop complaining\u201d and \u201cshop around\u201d to tackle the cost-of-living crisis. But, there is no escaping house price and rental inflation. Wherever workers and families look, they are locked out \u2013 of home ownership and, increasingly, even rental accommodation.<\/p>\n

\u201cThe housing market in this country is broken, but this is not an accident. It has been destroyed by design. Government policy has incentivised cuckoo funds to swoop in and snatch up homes from under the noses of first time buyers. Government ministers then cry crocodile tears when it is revealed that an entire generation has been condemned to a lifetime of rent.<\/p>\n

\u201cThe cuckoos have come home roost \u2013 because the government incentivised them to come here.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The cuckoos have come home roost \u2013 because the government incentivised them to come here Cuckoo funds outbidding ordinary buyers for family homes by up to 32pc is a direct consequence of government policy, according to Social Democrats Housing Spokesperson Cian O\u2019Callaghan. \u201cYoung workers and families don\u2019t stand a chance when they try to buy […]<\/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-1774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cian-ocallaghan","category-housing-crisis","category-press-release"],"acf":[],"yoast_head":"\nGovernment To Blame For Cuckoo Funds Snatching Homes From Families - 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-to-blame-for-cuckoo-funds-snatching-homes-from-families\/\" \/>\n<meta property=\"og:locale\" content=\"ga_IE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government To Blame For Cuckoo Funds Snatching Homes From Families - Social Democrats\" \/>\n<meta property=\"og:description\" content=\"The cuckoos have come home roost \u2013 because the government incentivised them to come here Cuckoo funds outbidding ordinary buyers for family homes by up to 32pc is a direct consequence of government policy, according to Social Democrats Housing Spokesperson Cian O\u2019Callaghan. \u201cYoung workers and families don\u2019t stand a chance when they try to buy […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.socialdemocrats.ie\/government-to-blame-for-cuckoo-funds-snatching-homes-from-families\/\" \/>\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=\"2022-02-09T10:13:34+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-to-blame-for-cuckoo-funds-snatching-homes-from-families\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-to-blame-for-cuckoo-funds-snatching-homes-from-families\\\/\"},\"author\":{\"name\":\"ZOO Admin\",\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/#\\\/schema\\\/person\\\/4aa25e1b0ecfe5e51a2ceab9a9006960\"},\"headline\":\"Government To Blame For Cuckoo Funds Snatching Homes From Families\",\"datePublished\":\"2022-02-09T10:13:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-to-blame-for-cuckoo-funds-snatching-homes-from-families\\\/\"},\"wordCount\":301,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-to-blame-for-cuckoo-funds-snatching-homes-from-families\\\/#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-to-blame-for-cuckoo-funds-snatching-homes-from-families\\\/\",\"url\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/government-to-blame-for-cuckoo-funds-snatching-homes-from-families\\\/\",\"name\":\"Government To Blame For Cuckoo Funds Snatching Homes From Families - 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