Friday, September 13, 2013

Irish Examiner – 06/09/2013 and 13/09/2013

The Irish Examiner have carried two pieces from me over the past week.  They are available at the following links.

3 comments:

  1. "There are around 100,000 households showing some forms of mortgage distress. This is less than 6% of all households in the country. " (Article, Ir Examiner, Sept 6th)

    Seamus,
    Assuming that this is the central bank figure recently produced in their latest arrears figures (Aug 23rd), it is correct to say (being picky) that 100,000 households, with the emphasis on households, are in mortgage distress?

    The 100,000 includes, I assume, BTL mortgages, where it is the landlord that may be in distress, not the 'household', at least if we define that household as the people living in the house.

    You may consider this a rather superfluous distinction. Nevertheless the distinction between an OO household in difficulty and an investee in difficulty is surely an important one, as far as policy measures to deal with the mortgage arrears issue is concerned.

    "There were 97,874 (12.7 per cent) private residential mortgage accounts for principal dwelling houses (PDH) in arrears of over 90 days at end-June 2013, up from 95,554 accounts (12.3 per cent) at end-March 2013." (CB, Aug 23rd)

    ReplyDelete
  2. Correction:

    "There are around 100,000 households showing some forms of mortgage distress. This is less than 6% of all households in the country. " (Article, Ir Examiner, Sept 6th)

    Seamus,
    Assuming that this is the central bank figure recently produced in their latest arrears figures (Aug 23rd), is it correct to say (being picky) that 100,000 households, with the emphasis on households, are in mortgage distress?

    The 100,000 includes, I assume, BTL mortgages, where it is the landlord that may be in distress, not the 'household', at least if we define that household as the people living in the house.

    You may consider this a rather superfluous distinction. Nevertheless the distinction between an OO household in difficulty and an investee in difficulty is surely an important one, as far as policy measures to deal with the mortgage arrears issue is concerned.

    "There were 97,874 (12.7 per cent) private residential mortgage accounts for principal dwelling houses (PDH) in arrears of over 90 days at end-June 2013, up from 95,554 accounts (12.3 per cent) at end-March 2013." (CB, Aug 23rd)

    ReplyDelete
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