Lucan residents protest after housing estate bought by vulture fund

by Kim O Leary

By Kim O’Leary

Protestors gathered at a housing estate over the weekend after it was bought up by a vulture fund to voice their anger and frustration at not being able to afford to buy a home.

Young families and people trying to get on the property ladder were at Shackleton Park in Lucan, South Dublin, on Saturday 29 May.

A builder sold 150 of the 229 homes to Irish investment firm Carysfort Capital and Wall Street financial giant Angelo Gordon for €48million.

Among those protesting yesterday was 23-year-old Dubliner Sadhbh MacLochlainn.

She said despite working full-time and saving there is no way she will be able to afford to buy a house.

“I’m living in Dublin and pay €800 for a shared room. At that rate, myself and my partner, who live together, there is no prospect of us ever getting a mortgage. We both work full-time but there is no way we will be able to buy a house when we pay rent that is a third of my income,” she said.

People Before Profit TD Gino Kenny added: “I think it’s important to highlight the issue around cuckoo and vulture funds which have been introduced to the Irish housing market over the last eight or so years.”

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