Hope for 'Generation Negative Equity'
THEY were the days when the possibilities seemed endless, in which there was a job for anyone who wanted it and the keys to a dream home with two cars in the driveway were held up as the reward awaiting anyone willing to put their shoulder to the wheel.
To get there, all we had to do was put one foot on the property ladder and begin the climb. From shoebox apartments to the traditional three-bed semi-d, onwards and upwards till we acquired the luxury retreat far from the madding crowd.
We bought, we sold, we bought again, flipping our family homes and our fortunes as if they were stocks and shares. Property was the Irish aphrodisiac and we couldn’t get enough of it until the day it all came to a shuddering halt.
Now for a whole generation who bought in the boom, and the parents who did their best to help them, negative equity and mortgage distress have turned the ultimate turn-on into a depressing turn-off. Guilt, remorse and pain have rushed in to replace the happiness that came with having a place to call one’s own.
This Sunday, in the Sunday Independent, we ask the experts, not the estate agents, to dig for hope for ‘Generation Negative Equity’ and for those now wondering if the time has come to take the first step on to the property ladder.
“Hope for Generation Negative Equity” – only in the print edition of the Sunday Independent tomorrow.