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13-03-2013, 17:11   #436
handlemaster
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its about time repossession started happen wholesale its doing no one any favours sticking heads in the sand. Does who can pay should those who cant join the rental market and if you cant pay that I am sure our welfare state will pay for it.
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22-03-2013, 19:05   #437
Villa05
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Quote:
Originally Posted by monkeypants View Post
Tough question. I've no doubt that I'm severely in negative equity myself, but it's our home, so we're staying and paying. Right now we can afford to. That, of course, may change.

My question is this: while your post makes a lot of sense, it's not exactly proof. This professor is making this claim and I don't see any evidence. Now maybe he's got loads of evidence, but he hasn't provided it to the Indo.
MP hope everything works out for you
He has another article in today's Irish Times, again no evidence just uses data available to question the level of arrears.
http://www.irishtimes.com/business/e...isis-1.1334707

I do feel he brings an important point into the whole debt forgiveness debate.
Where there is debt forgiveness proposed there should be full transparency on the recipients income.
The Gov know something we don't and they are consistently drawing a line between "can't pay" and "won't pay". How long would it take to gather the PPS numbers of those in arrears and compare with Revenue data (amazing what excel can do)

This mortgage crisis is going to be very expensive to resolve and will lead to higher taxes and interest rates. If there are chancers out there trying to take advantage they need to be rooted out, so that you and I do not pay more.
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22-03-2013, 21:00   #438
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A month earlier in another article Gregory was suggesting between 35% and possibly more than 50% of those in arrears were strategic defaulters basing some of he's ideas on the US market which he says has up to 50% defaulters:
http://www.irisheconomy.ie/index.php...rtgage-market/

Yet he does not take into account recourse versus non-recourse mortgage systems in both countries. He seems to be changing his mind as he never stated any figures he had in mind in the Irish Times article. A bit odd to me.

I'm all for identifying and pursuing strategic defaulters but pulling numbers out of a hat reminds me of a scene in the film the Manchurian Candidate about the "precise numbers of persons in the communist party"

http://www.tubechop.com/watch/1047062
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