The Master of The High Court Edmond Honohan, has called for serious consideration to be given to the use of Compulsory Purchase Orders (CPO) by the State to retrieve some of the housing stock taken over by vulture funds. He was speaking this week on the ‘Claire Byrne Live’ television show.
He has been backed in his call by South Tipperary Independent TD Mattie McGrath, who said Mr Honohan criticised the acting Minister for the Environment, Alan Kelly for claiming the existence of significant constitutional barriers have blocked his attempts to address the housing crisis at the political level:
“The comments by the Master of the High Court demonstrate that we are very far from pursuing all available options when it comes to addressing the housing emergency that currently exists.
“It is inconceivable that we are not at least contemplating the use of CPO’s when it comes to purchasing the vast housing stocks that have been acquired by various vulture funds and the like of NAMA.”
Deputy McGrath said it is completely absurd that vulture funds who have very often acquired massive mortgage loan books without the consent or knowledge of ordinary householders, are now deemed to be ‘a protected species’ when it comes to compulsory purchase orders.
“I would therefore call on acting Minister Kelly to make some effort at redeeming his disastrous tenure in that department by listening to the advice of the Master of the High Court instead of making elaborate political excuses for his own political inaction,” concluded Deputy McGrath.