Tag: mortgages
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Why are Buy to Let Mortgages being allowed fester?
The mortgage crisis is the rancid gift that keeps on oozing. The publication this week by the Department of Finance of mortgage arrears figures highlights the festering lethargy that has characterised much of the Irish response to the financial crisis. That it publishes slightly different figures on the same issue as the central bank highlights the embedded…
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We know little about them so stop being meme to those in mortgage arrears
This is a version of my Irish Examiner column of 10 august 2013 The Irish mortgage situation continues to bedevil both political and economic commentators. It does this in an almost complete vacuum, and as we know nature abhors a vacuum, and so this is filled with chatter and verbiage. Out of this chatter has…
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Strategic Mortgage Default: What does the research tell us?
What do we know about strategic (could meet obligations but choose not to ) defaulters in relation to mortgages? As I argued earlier, in the Irish case very little is known. There is a little more information for the USA, but we should be very careful about blindly or even carefully transposing US experience to…
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Strategic Defaults in Irish Mortgages – What do and dont we know?
Irish residential and Buy to let mortgages are in a mess. The latest Central Bank data indicate that by value 16.5% of all residential mortgages are in arrears accounting for 12.3% of all mortgages. The charts below show the evolution of this situation. Note that these are only for residential mortgages. Buy to Let are a…
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Where and when will Irish mortgage arrears peak?
The Central Bank has brought out the latest figures on mortgage arrears and they are not pretty. Lets look at the private home mortgages – As of september 17% of all mortgages are in arrears, that is 135k out of 760k. By value it is 15%. Those over 90 days in arrears, those who are…
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Danish Mortgages in Ireland? No thanks
Senator Sean Barrett introduced a bill into the Senate this week to in effect restructure the Irish mortgage market along Danish (aka rational) lines. Stephen Kinsella on IrishEconomy has a post on it where he notes that the Minister nixd the bill on essentially four grounds 1. We are not, nor were we ever, Denmark.…