Almost two-thirds of boom-time mortgages have suffered from negative equity, according to research by the ESRI.
In an academic paper, which was previously published, the institute said that around 214,000 mortgages issued between 2005 and the end of 2012 had been in negative equity.
It estimated that this represented 64% of all primary residential mortgages taken out during that time.
The majority of those in negative equity were aged 40 or under, according to the ESRI, with those aged between 30 and 39 having experienced the greatest loss of wealth through house price falls.
The ESRI said that around €43bn in wealth was lost by Irish households as a result of the crash, with this even having an impact on those who remained in 'positive' equity.
The research also suggests that the characteristics of the mortgage taken up was an important factor in determining whether borrowers experienced negative equity as house prices began to fall.
