Thursday 8 December 2016

Stop whinging and grow up

Published 20/02/2011 | 05:00

Sir -- I was reading, and empathising, with the great suffering and tremendous pressure felt by my countrymen and women in your series 'The Blight of Debt', when I was quite literally struck dumb by one of the stories. I honestly could not believe 'John', the employee of an Institute of Technology. I could not believe his naivete when it came to describing how his life was terrible.

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He describes how he was offered a 110 per cent mortgage on a house worth €165,000 (thereby gaining an extra €11,000 cash, presumably to furnish his home).

Now I may still be wet behind the ears and not own property, but even I know that borrowing more money than you absolutely need is a pretty stupid idea. So what if you might not have the best sofa, or the biggest fridge, for a year or two?

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