# "Welcome to Ireland, Where Mortgage Payments Are Optional"



## shnaek (12 Apr 2013)

Just read this article in The Atlantic:

http://www.theatlantic.com/business...are-optional-and-the-banks-are-a-mess/274566/

"Ireland's homeowners are the European and perhaps the world champions in not repaying mortgages."

Our mortgage arrears are way out of whack with the rest of Europe, including Greece and Spain:
http://cdn.theatlantic.com/static/m...uartz_Ireland_Chart1-thumb-570x468-117649.png

This chart is also telling:
http://cdn.theatlantic.com/static/mt/assets/business/Quartz_Ireland_Chart2.png

This shows that we aren't nearing a bottom to the property slump anytime soon.

Is the outside opinion correct? Is the hangover only beginning?


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## Purple (12 Apr 2013)

Very interesting. It exposes how much of the current national debate is BS.


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## Protocol (12 Apr 2013)

I'd say plenty of BTL landlords are re-directing the rental income to servicing their PPR mortgage.


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## Bronte (15 Apr 2013)

Protocol said:


> I'd say plenty of BTL landlords are re-directing the rental income to servicing their PPR mortgage.


 
Or redirecting it under the bed etc.


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