News Editorial

Sunday 11 December 2016

Property firesale will escalate housing crisis

Published 23/04/2016 | 02:30

'The acquiescence of the State in facilitating the firesale of thousands of houses and apartments, some for as little as €6,000 each, will in time be recognised as a monumental blunder'
'The acquiescence of the State in facilitating the firesale of thousands of houses and apartments, some for as little as €6,000 each, will in time be recognised as a monumental blunder'

Ireland and its relationship to property is conclusive proof that history repeats itself first as tragedy, second as farce.

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In the wake of the Famine in 1849, the Encumbered Estates' Court came into being, enabling the mass sale of Irish estates whose owners were swamped with debt.

At that time, the country was an impoverished colony of Britain. Today, we have our independence and there can be no excuses, such as blaming absentee landlords or peers stupefied by port and louche living, for our plight.

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