Galway Bay fm newsroom - A Galway TD says an outright ban on investment funds buying homes would be short-sighted.
However, Deputy Ciaran Cannon agrees the recent controversial purchase of almost an entire housing estate by a fund is completely unacceptable.
It comes as the Government is to seek legal advice from the Attorney General over how it can tackle the bulk buying of homes by so called 'cuckoo funds'.
An all out ban is being considered as well as new planning rules and taxation measures to make it less attractive for investors.
Galway East Deputy Cannon says these investment funds normally invest in major apartment developments rather than conventional homes.
He agrees that while these funds should not be buying up entire housing estates, they do have a role to play in improving housing supply.
Speaking to Keith Finnegan, Fine Gael Deputy Cannon said an outright ban on investment in certain types of housing could have a negative impact..
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