Wednesday 13 December 2017

This country is one big gamble on rising property prices

Are we headed for another bubble?
Are we headed for another bubble?

Karl Deeter

Yesterday this paper carried front page news about the Government's plans to introduce a 95pc mortgage that would come with a state guarantee attached to ensure there was adequate credit available to first-time buyers of new houses.

This is because it would apparently be a grave error to have a situation where people cannot leverage up their entire future to borrow as much as humanly possible, and support the upward momentum of property prices that the future of this nation seems to hinge upon.

The cheerleaders were out of the blocks almost instantly, and I can see why; Irish Mortgage Brokers will be a beneficiary of such a plan, but we are unable to ethically endorse it because it is misguided and fails to resolve the foundational issues.

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