Monday 19 February 2018

We can't solve our negative equity problems by creating a new wave of mortgage slaves

Anecdotes of sharp property price increases abound
Anecdotes of sharp property price increases abound
Ivan Yates

Ivan Yates

Residential property prices are a more prevalent conversation topic than the Premier League. But between the competing vested interests – homebuyers seeking affordable accommodation; financial institutions and NAMA with property portfolios to off-load seeking maximum returns; existing homeowners in negative equity, hoping house values realign with their loans – where lies the national interest?

Cheaper housing costs are critical to reasonable living standards. Dearer homes mean higher wages – making house prices a vital competitiveness component. In this conflict whose side is the Government on?

For income stability we need ratios of residential values to total household income of no more than a multiple of three or four.

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