Oireachtas Joint and Select Committees
Wednesday, 4 March 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Professor Alan Ahearne:
It was all driven by the capital gain investors were expecting to get. If they had been told the capital gain would be zero they would not have bought these properties because the rents would not have made it worth their while relative to the interest they had to pay. The interest rates rose and that made buy-to-let investing disastrous.
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