Wednesday 25 April 2018

Mark Keenan: Why ownership will always trump renting in the Irish market

DESPITE experiencing the second worst property crash of modern times, despite a generation of young Irish families being pinned down by negative equity and having their domestic budgets sat upon until they squeak by great big massive great galoots of mortgage repayments, despite the fact that some of our homes have been laced through with faulty pyrite ... we Irish still want to own them.

According to our study, 84pc of Irish thirtysomethings expect to own their own home. Not "want to" or "aspire to" – but "expect to". That's important.

Yet in this same group, 12pc are in arrears, 33pc are worried about negative equity and 68pc are worried about rising mortgage debt.

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