"Welcome to Ireland, Where Mortgage Payments Are Optional"

[shnaek]

Just read this article in The Atlantic:

http://www.theatlantic.com/business...are-optional-and-the-banks-are-a-mess/274566/

"Ireland's homeowners are the European and perhaps the world champions in not repaying mortgages."

Our mortgage arrears are way out of whack with the rest of Europe, including Greece and Spain:
http://cdn.theatlantic.com/static/mt/assets/business/assets_c/2013/04/Quartz_Ireland_Chart1-thumb-570x468-117649.png

This chart is also telling:
http://cdn.theatlantic.com/static/mt/assets/business/Quartz_Ireland_Chart2.png

This shows that we aren't nearing a bottom to the property slump anytime soon.

Is the outside opinion correct? Is the hangover only beginning?

 

[Purple]

Very interesting. It exposes how much of the current national debate is BS.

 

[Protocol]

I'd say plenty of BTL landlords are re-directing the rental income to servicing their PPR mortgage.

 

[Bronte]

I'd say plenty of BTL landlords are re-directing the rental income to servicing their PPR mortgage.

Or redirecting it under the bed etc.