Mr. Brendan McDonagh:

In the early days people were slow off the mark to put their hands up or took too long to make a decision. A debtor or receiver may have held houses and said he or she was obliged to get as much money as possible to pay off his or her debts. He or she may have been able to rent a unit or had a very good offer to sell, and we had to let that activity happen if it made commercial sense. We are constantly recycling and offering product to the housing agencies. As new product becomes available or stock which was rented is freed up, we ask State bodies whether they are interested.