Saturday 21 January 2017

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.

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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.

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