Professor's mortgage war a little far-fetched
Published 13/11/2010 | 05:00
IF you are to believe the apocalyptic predictions of UCD economics professor Morgan Kelly we are on the cusp of a mortgage war, similar to the land war of the latter part of the 1800s.
Back then tenant farmers demanded the redistribution of land to them from absentee landlords.
Roll forward to today and the hostilities on the home-loan front will see 200,000 people default on their mortgages and these people will take to the streets to teach our errant bankers a lesson.