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.
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?