John Walsh: We need an ‘IDA for housing’ to source building funds overseas

Institutional investors have been depicted as vulture funds but the truth is an international solution is necessary as the state cannot fund the entire housing sector by itself

Irish banks remain well-positioned to withstand the next bout of turbulence poised to hit the financial sector. Picture: Getty Images

The current economic boom has inevitably prompted comparisons with the years leading up to the crash in 2008. Back then, the government was able to ramp up spending because of buoyant property taxes. This time it is runaway corporate tax receipts that are enabling the government’s largesse.

There is a crucial difference, however. In the noughties, the banks were responsible for the credit-fuelled property bubble. When that bubble deflated, it wreaked havoc with the wider ...