tag:blogger.com,1999:blog-8817171247555815363.post8305317887503504921..comments2024-03-26T05:57:44.937+00:00Comments on True Economics: 16/11/2011: Irish Mortgages CrisisTrueEconomicshttp://www.blogger.com/profile/07350536454228478974noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8817171247555815363.post-83060580685515030672011-11-18T06:42:23.766+00:002011-11-18T06:42:23.766+00:00Constantin - This article on mortgage arrears seem...Constantin - This article on mortgage arrears seems to nail the issues. Is anyone in government listening? What about those who can just about pay but whose income is totally consumed and not available to purchase goods and services in other areas of the economy? What about cutting mortgages across the board by a certain percentage? This means that no-one can feel resentful that others are being relieved of their debts as well as freeing up money for use in the general economy, making jobs etc. I know there is 'moral hazard' and sensible wise undebted people who are comfortable at present will feel upset. However (a) their businesses are being destroyed by a lack of purchasing power in this section of the economy and (b) it is probably affecting oeople in their extended family. In addition general society benefited from the huge house prices and stamp duties paid by these people when purchasing the houses up to 2007.Anonymousnoreply@blogger.com