With the Irish housing crises AGAIN talking centre stage on the government agenda, ‘cuckoo funds’ have become the target for much of the blame for the shortage of houses coming on the market for buyers. But just what is a Cuckoo Fund? The phrase ‘cuckoo fund’ was coined by the Irish Independent in 2019 to describe big mostly international funds that buy up large blocks of apartments and houses, not to 'flip’ for resale - like vulture funds do - but for their ongoing rental income. Likewise, these ‘Cuckoo Funds’ are buying up entire developments of new properties and crowding ordinary home buyers out of the market. Government is now looking at ways to clip the cuckoo funds wings.

Source: Irish Independent May 18, 2021 17:37 UTC