We were obsessed with house prices during the boom and are now even more so. Of the 790,000 residential mortgages in the state 1 in 8 can be classed as ‘in trouble’ and a massive 300,000 are in negative equity. If prices were to rise again it might help solve our mortgage time-bomb. If they don’t rise what then? Well that’s something that the cabinet will be deciding on tomorrow when they discuss a report on how to ease the burden of debt. What will they recommend – more forebearance, interest only repayments, negative-equity mortgages? Will any proposals falling short of debt forgiveness be enough?
Do join us, on The Frontline on RTÉ 1 at 10.35pm.