Leader's Question Time in the Dail was a DISGRACE today

[Maximilian]

I don't know but constant news reports suggest many.

Quite. From what I have read the number of 100% mortgages relative to the overall number of mortgages was small. At the height of the boom only a third of mortgages to first time buyers were 100% mortgages.[1]

For all of you who think that those people who took out 100% mortgages were reckless, what would you consider the person who only took out a mortgage for 55% of the value of a house December 2006 – a time congruent with when 100% mortgages were available? They would now be in negative equity and would thus be in trouble should circumstances lead to them being unable to pay their mortgage.[2] Were they reckless too?

Perhaps it was just reckless to purchase a house during the boom at all. However, house prices in Ireland had almost inexorably gone up since 1970.[3] At what point during that time did it become reckless and on what basis should people have, at that particular time in question and without the benefit of hindsight, made that judgement?

So many lazy generalisations are made about the unfortunates who bought during the boom by people who believe they know/knew better. In most cases, these sages were just lucky.

I have little sympathy for anyone who bet on the market and bought property as an investment – in much the same way as I would not have sympathy for people who bet on any other type of investment. I have lots of sympathy for people who bought homes and now find themselves in difficulty.

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[1] http://homepage.eircom.net/~phonohan/What%20went%20wrong.pdf

[2] Residential Property Price Index by Type of Resiential Property, Month and Statistic - StatBank - data and statistics

[3] International House Price Comparisons 1970-2006: Irish price growth in 36-year period third highest among 18 Developed Countries

[frosty]

Not much change in 12 months, same circus, different clowns.

Theres very few of them in the Dail at all lately when the novelty wore off.

[ShoutingIsLeadership]

All the 'fun' should be on Oireachtas report now

[LadyLou]

And think of all the money they are getting for acting like clowns. Isn't that why we should be angry with them. Bold children, letting themselves and us down again.

[elliebee]

The guffawing during Leaders Questions is most disrespectful to our national parliament and the citizens of this country.

Our current batch of politicians sound more like a group of cowboys at a strip show.

[Greg Mooney]

Didn't Enda say it was the peoples fault today??

Suppose it was we bought the lies fed to us by the treacherous self serving bastards, and kept re electing them, and now they have
walked off with fat pensions and cushy jobs (in the case of teflon Bertie). As far as I am concerned Fianna Fail govt were all economic traitors (although I would usually just drop the economic bit).

[RedIrish]

Reading the script of the debates is like reading this forum.

Constant ego measuring and mockery. I feel like slapping every single one of them sometimes.

[thetruthsback]

Reading the script of the debates is like reading this forum.

Constant ego measuring and mockery. I feel like slapping every single one of them sometimes.

Your right, it's like a script from a sitcom