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Truths I can’t quite believe

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    Pension funds are some of the biggest bastards for this in Dublin, kept enforcing upward only rents even at the worst of the crash.


      Somebody should do something about it.

      I hope all the greedy bastards lose a lot of money if and when the bubble pops.

      And die in a fire, of course.

      Around here, the big (big for here, not big by city standards) new buildings are mostly student apartments, even though the student population isn’t growing, and mostly being built/bought by companies based far away.

      Historically, the apartment buildings and commercial real estate has been dominated by a handful of local companies. The owners are wealthy by any normal standard - because the margins they made when the town was growing rapidly in the 60s and 70s were enormous - but they aren’t quite helicopter-pad-at-the-Hamptons-house rich. And they’re local, so they support local causes, etc.

      I don’t know if these big national companies really understand this market - maybe they do. They have people who do research - and they probably aren’t going to put whatever profit they squeeze out of here back into the community. In fact, as I understand it, there is no “they.” These companies are owned by funds, etc.

      I just worry there will be a lot of needlessly empty spaces and fewer spots for Quixotic local businesses.


        Welcome to London. And Manchester.

        (Actually, IIRC there is still a building site near the Coop that was a scam for Chinese investors.)


          Something has to give.