‘Strong argument’ to retain strict mortgage borrowing rules

“You might maintain it for a while, but what they’re doing is storing up problems for the future,” he said, adding that short-term borrowing from friends and family, as well as a reliance on credit cards, became a feature among those paying such a high proportion of their income on housing costs.

“This may be due to escalating rental costs and may also reflect efforts by respondents to maximise deposit savings. In any event it may be the case that housing market conditions are driving changes to habitation patterns,” the paper found. “Housing markets, if unconstrained, may disproportionately lean toward development in urban peripheries.”The authors also warn that there may be increased pressure on the Government to come up with new schemes and subsidies to support buyers.

According to the report, “demand for housing subsidies targeting first-time buyers may persist or strengthen”.

typical Irish scenario 12-13 years ago central bank allowed 100% mortgages which buried people with high interest loans which could never be cleared.. present day and the central bank have now got potential home owners in purgatory as they can’t access the funds to purchase homes

johnjazzharan any thoughts on this?

You mean the fucking banks who flood the place with money

yet again strangling peoples ability to buy a house...mind you when the likes of Pamela Flood and her husband can be excused of a 1.2 million euro mortgage in its entirety it just makes the banks case

If the government did something about the housing crisis the cost of a home would drop so there would be no excessive financial risk

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