We are the renters and future home buyers. No one ever appears in the media to speak for us. We don’t have the Irish Property Owners Association, Irish Mortgage Brokers, New Beginnings or any of the vested interest economists to advocate on our behalf. And what are our interests? We wish to see house prices continue to fall and for the banks to finally begin repossessions.
Here’s why. We will reach the bottom faster and become a more competitive society, more of our people will be able to buy their own homes without being inordinately indebted, and those people who are overburdened will bite the bullet and finally move on with their lives.
This may sound callous, but is it any more callous than dragging out a house crash in slow motion over a decade and encumbering future generations with unsustainable debts to prop up a fantasy that there are no consequences for poor decisions?
Is it any more callous than asking people who rent to subsidise those who cannot pay their mortgage, making it impossible for them to ever aspire to home ownership?
Please bear us in mind. We are out here and there are many more of us than there are property owners.