Tuesday 6 December 2016

There's no place like home for avoiding the truth

Is it so bad to admit that some homes should be repossessed, asks Eilis O'Hanlon

Eilis O'Hanlon

Published 19/04/2015 | 02:30

Is it so bad to admit that some homes should be repossessed?
Is it so bad to admit that some homes should be repossessed?

Anger is the natural psychological defence mechanism when something threatens one's sense of self or most deeply held beliefs.

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The reaction to the formation of a new Irish Moral Hazard Organisation (IMHO) conforms exactly to that pattern.

The IMHO has a simple philosophy. Those who make some effort to pay off their outstanding mortgages, and who engage positively with banks and the courts, should not have their homes repossessed; but those who refuse to pay a single cent, often for years on end, should not expect to keep their homes or expect sympathy when the banks come a knocking for the keys back, because, frankly, they're taking us all for a ride.

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