Never bought a house - the moral hazard!

[Supermanpolitician]

There are a couple of crazy letters in the Irish Times these days saying that people's mortgages should be written off in a NAMA style deal.

Bad enough that we have real NAMA, but those who were prudent and knew that house prices ten times the average salary could not be sustained, bid their time and paid their dues by living in rented accomadation. Many of these folks saved well, put their money aside and now deserve the opportunity to buy a house at market value. They have put up with flatmates, living in crappy areas, not having personal space etc.

Now they see their savings devalued by the artificial supports for the collapsing market. Some folks are even talking about a NAMA for homeowners.

Those who were prudent with their money and sacrificed comforts shouldnot be penalised for the stupidity and greed of others. There was a 24 year old kid on the Frontline who was a plumber with a 600K mortgage. I feel sorry for him but why does he get to live in a house that he cannot pay for and I don't get to live in a house that I can pay for under present market conditions?

[Sync]

Agree with all the above aside from the feeling sorry for the guy who botched his own finances. I feel sorry for starving kids in Africa, not people who were in a position to make their own lifechoices. As someone with a few mortgages, I find it bizarre that I should be looking for sympathy or help from people who decided not to get involved in property were things to go wrong for me.

[Supermanpolitician]

Agree with all the above aside from the feeling sorry for the guy who botched his own finances. I feel sorry for starving kids in Africa, not people who were in a position to make their own lifechoices. As someone with a few mortgages, I find it bizarre that I should be looking for sympathy or help from people who decided not to get involved in property were things to go wrong for me.

OK fair point about the kidsin Africa.

But I didn'tbotch my own finances. I was very prudent, have good savings etc. But those who paid 350K for a semi d when they were earning 40K, those folks should pay their mortgages or sell their homes to those who didn't go nuts.

[Sync]

OK fair point about the kidsin Africa.

But I didn'tbotch my own finances. I was very prudent, have good savings etc. But those who paid 350K for a semi d when they were earning 40K, those folks should pay their mortgages or sell their homes to those who didn't go nuts.

Agree totally.

[Congalltee]

Why pay social welfare to someone who didn't study hard and dropped out of school?
Why pay for healthcare for someone who continues to smoke, drink heavily and eat fatty food?
Why, oh why, can't everyone be as perfect as the two posters on this thread?

Goverment exists because a society it consists of imperfect people acting individually and as a crowd not always doing the right thing, but the government must use its pool of resources to help.

[Yosser]

OP,you'd be better off emigrating.Stupidity and recklessness is rewarded in this country.

[Aindriu]

Why pay social welfare to someone who didn't study hard and dropped out of school?
Why pay for healthcare for someone who continues to smoke, drink heavily and eat fatty food?
Why, oh why, can't everyone be as perfect as the two posters on this thread?

Goverment exists because a society it consists of imperfect people acting individually and as a crowd not always doing the right thing, but the government must use its pool of resources to help.

But why should they wipe out the mortgages of those who were incredibly foolish and took on mortgages they had no chance of paying back long term? People were paying half a million and more for crappy 3 bed houses that are really only worth around €275k of anyone's money.

[Wakeupcall]

Why pay social welfare to someone who didn't study hard and dropped out of school?
Why pay for healthcare for someone who continues to smoke, drink heavily and eat fatty food?
Why, oh why, can't everyone be as perfect as the two posters on this thread?

Goverment exists because a society it consists of imperfect people acting individually and as a crowd not always doing the right thing, but the government must use its pool of resources to help.

Those people die early... Less pension to pay vs % of working life, duh!!

[Sync]

Why pay social welfare to someone who didn't study hard and dropped out of school?

You should do so on a reducing scale until they train up to the point where they can work.

Why pay for healthcare for someone who continues to smoke, drink heavily and eat fatty food?

Shouldn't IMO. But smokers and drinkers also pay a ridiculous amount of tax on their products, which the government should be using to fund their treatment so it balances out. In general I'd favour cheaper products, but you handle the consequences yourself.

Why, oh why, can't everyone be as perfect as the two posters on this thread?

Nothing to do with being perfect. One of my properties is in negative equity right now. But it's my property, my loan, my problem. Not my neighbours.

[sauntersplash]

Goverment exists because a society it consists of imperfect people acting individually and as a crowd not always doing the right thing, but the government must use its pool of resources to help.

I don't think that's why Government exists. It exists to prevent the strong from dominating the weak...too severly.