Sir, – I read with interest the letter from the Irish Property Owners' Association (June 2nd). One word that stuck out is "courage" used in the context of investing. Investing in property is not about "courage"; it is about risk, reward and return on capital. Too many amateur landlords ignored the latter.
As for the State, it should have the courage to instruct the banks to foreclose faster on defaulting rented property – to tackle those who bought at levels that will never lead to a return on capital. Returning these properties to the market would lead to lower prices.
There is nothing to be gained by continuing to subsidise accidental landlords – the “buy to regret” sector. – Yours, etc,
ADRIAN MULRYAN,
Hesperus Crescent,
Isle of Dogs, London.