Greedy alliance ripping off home-hunters

FOLLOWING the Dublin housing market survey by TCD professor PJ Drudy, let’s remember that the banks and building societies are also in partnership with Fianna Fáil in the great rip-off of young people desperate to own a home at any price.

If these greedy organisations used prudent lending criteria and the old rules restricting loans to a multiple of annual income, this rip-off would end.

These same banks aided and abetted thousands of businessmen to avoid paying their taxes through fraudulent offshore accounts, and they got off virtually scot free. Now they are complicit in the rip-off of our young people by ‘friends of Fianna Fáil.’

That party will never reform the status quo because of its close relationship with landowners, builders and big business. The current Oireachtas report and recommendations on reform will gather dust, as did the last report on this subject commissioned over a decade ago.

John McDermott,

56, Martin Savage Park,

Ashtown,

Dublin