Oireachtas Joint and Select Committees
Wednesday, 9 October 2024
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Engagement with the Central Bank of Ireland
1:30 pm
Peadar Tóibín (Meath West, Aontú)
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I have two final questions. I understand that there are still some 60,000 mortgage holders paying inflated rates on their mortgages because they are with vulture funds. What can be done to help those people? We mentioned the bubble and the banking crisis that happened some 15 or 20 years ago. One of the ways credit has increased in the Irish housing sector has been through international investment companies. They own a big portfolio of housing. Obviously, their decisions will be led by market projections, etc. Does that potentially cause a risk in the housing sector? In other words, if all of them were to leave the market at once, would that have an effect on house prices if there was such a shock to the economy in the near future?