Dublin’s Priory Hall shows the human cost of the Irish property bust – IrishCentral.com

by Bregs Blog admin team

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Dublin’s Priory Hall shows the human cost of the Irish property bust – IrishCentral.com

A good synopsis of the history of Priory Hall here on the international blog Irish Central by John Spain (11th September 2014). Link here:

http://www.irishcentral.com/opinion/others/dublins-priory-hall-shows-the-human-cost-of-the-irish-property-bust-223282251-238253191.html

Extract:

“Where Priory Hall was concerned everyone ran for cover.  The developer said he was bust, the council blamed the developer, the state claimed it could do nothing until court actions were concluded, the insurance companies — including the Homebond guarantee backed by the construction industry — found reasons why it was not liable to pay up … and the government did nothing.

Meanwhile, the lives of the unfortunate people who had bought homes in Priory Hall were destroyed as they struggled to survive and were harassed by the banks to go on paying their mortgages.

For one man, Fiachra Daly, a father of two who had been one of the leaders of the Priory Hall residents in their fight to get something done, it all became too much in July.

More demands from the banks that he and his partner Stephanie Meehan keep up payments on their Priory Hall apartment and the failure of the state to intervene finally pushed him over the edge and he committed suicide.   Stephanie went public with the case and with a letter she had sent to Kenny, emphasizing that he had been a great father and a stable person but had been driven to despair by the impossible situation they were in.

Public anger and disgust at what had happened was palpable, so much so that Kenny made a statement on television on the matter last week.  Doing his Mr. Sincere number, he wagged his finger at the camera and said it was an example of the worst excess of the Celtic Tiger and he insisted that he was going to do something soon … he just needed a report for himself on the matter and a  little time to consider.

It was breathtaking. Kenny and the rest of his government have known all about Priory Hall for at least two or three years.

They don’t need any reports.  And the court case over who will have to pay for the ongoing temporary accommodation does not stop them from acting either.

The fact is that the state was as responsible for what went wrong during the largely unregulated building boom as much as individual rogue developers like Tom McFeely.  The state should pay up.”

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