Local authorities are the most rapacious repossessors of all
Dublin City Council has a repossession rate which is nearly four times more than the mainstream banks
There is an agglomeration of Irish lenders which repossesses homes at a rate of ten-to-one compared to regular banks. It is so prodigious that not even subprime banks or vulture funds come close to ranking next to it.
What’s even worse is that it is the very team of lenders that many politicians put their explicit faith in, arguing that it is the ‘solution’ to our housing woes.
Does it strike you as bothersome...
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