Tuesday 24 October 2017

The most unlikely of casualties

The Irish economic crash has claimed casualties in the most unlikely places.

While all of us are familiar with tales of property developers short of a hundred million with which to repay their bank loans or of neighbours and relations who have lost their jobs and can no longer make their mortgage repayments, less well known is the plight of the so-called "poor rich".

As we report in today's paper, there is a group of people -- professionals, entrepreneurs and managers, many of whom still earn more than €100,000 -- who have effectively been wiped out by the property crash.

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