Thursday 8 December 2016

Property market must work before any recovery

Published 14/12/2012 | 17:00

THE full extent of the mortgage crisis was finally revealed by the Central Bank yesterday when it gave details about the situation in the buy-to-let market for the first time and more information about arrears.

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The new figures show that 20,000 people are in arrears for more than two years while an astonishing 180,000 mortgages are in some sort of trouble.

Hardly a street or an estate in Ireland is unaffected but the banks are in complete denial about the problem.

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