Sir, – The Central Bank’s move to place restrictions on mortgages is a welcome first step in stabilising house prices. Yet it is astonishing to listen to people complain simply because the new rules prevent them from borrowing beyond their means.
The boom proved that we as a nation are incapable of making rational decisions when it comes to buying property.
The seductive power of cheap credit and the relentless encouragement to get on the “property ladder” left many people vulnerable to pressured decisions that led to grave financial consequences. It is time we matured as a nation and realised that we must live within our means, and if it takes regulations to force us to do so, then so be it. – Yours, etc,
JOHN BELLEW,
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Dunleer,
Co Louth.