How do you deal with buy-to-let investors in post Bacon world, albeit in 1998.
If we make it harder for buy-to-live to buy, then as noted earlier rents will go up, playing into the investors hands and further driving out the buy-to-live group
You do realise the government implemented Bacon and it was a total disaster. So bad that it was reversed within 3 years (maybe it was 2, I can't remember, but it totally drove the market bananas, and nobody could buy anything)
When you drive investors out of the market you know what happens, rents sky rocket.
This government has brought about this crisis, by the following:
a) reducing interest relief for investors to 75%
b) increasing tax via USP and PRSI on rent
c) not allowing NPPR and LPT as a legitimate cost, even though it is
d) making investors fearful that they might further decrease the 75%
e) aboishing bedsits, the timing was atrocious
f) not planning for the housing need, they have after all the numbers at their fingertips
g) not sorting out planning and speedy delivery of same
h) not getting Nama to release more housing
i) not getting Nama to get builders to build again, they have a fund for this, to complete developments I believe
j) not sorting out this bankruptcy mess that is hanging over every second post on AAM
Banks are also responsible
k) not dealing with insolvency in a quick and efficient manner
l) lettting people stay in houses for many years with no payments or reduced payments with no reality and not just writing off debt or getting people out of the properties if necessary