THE sense from the Central Bank's conference on fixing distressed property markets is that in the US, the mortgage arrears situation is being dealt with at a much quicker speed.
Repossessions are happening faster and there is more loan modification than on this side of the Atlantic.
And the sense is the market and the economy are improving faster as a result.
One IMF expert said that in the southern US state of Arizona, which was one of the states hit hardest by the US housing crash, the speedy rate of foreclosures had helped promote a quick turnaround in the market.
Another expert with the Federal Reserve Bank told the conference that recovery in the housing market in some US states had been helped by the fact that distressed borrowers had the option to walk away.
The IMF's man in Dublin, Peter Breuer, said last week that successfully tackling the arrears crisis was key to exiting the bailout.
The Government can no longer pay lip service to the mortgage arrears crisis.
Talk is cheap. We now need action.