Housing crisis and mortgage rules


Sir, – Heiko Gross draws attention to the fact that a leading campaigner for debt forgiveness is simultaneously campaigning for looser credit rules (September 3rd). A quick check shows that this contradictory position is shared across many political parties. Are we suffering from collective memory loss?

I ask myself if this is a conspiracy on behalf of those who want higher property prices or if advocates for looser credit simply do not understand simple economics?

We are subject to convenient anecdotes of individuals and couples outbid on their dream property because of limits on credit. It is patently obvious that increasing available debt will merely increase competition for the same properties and hence the selling prices.

We are told that young people are forced to spend money on rent because the “average property” is out of reach and hence they cannot save. Whatever happened to the starter home? Are there no “below average properties” available?

The inability to learn from our mistakes is nothing short of tragic. – Yours, etc,



Co Dublin.