Negative equity is only a problem if you need to sell your property urgently, either because you can’t make payments or for family reasons. As regards the first motive for those who bought as first-time buyers - the most likely buyers to have 100 per cent mortgages - government plans to abolish stamp duty will boost the value of their properties while extending mortgage interest relief should cushion most of the blow of higher interest rates.” (Irish Times, 14 June 2007)
This guy was the Economics Editor of the Irish Times. He had to be fucking interviewed for that position.
You can read the rest of his article below the fold.
I finding hiding from the Irish media is the only way to maintain my sanity but this *IS* the same fuckwit who now regales us with neo-lib detritus on Newstalk, isn’t it.
He hasn’t improved.
I’m afraid so, Pope, ‘fraid so.
It’s impossible to believe that O’Brien has any better an insight than this fella had.
Did ye hear/see him on Frontline ages ago before the election? He was on with Richard Boy-Barrett who was criticising neoliberalism. Coleman then says “Look, neoliberalism is gone and dead and that’s not a factor anymore” (or something to that effect).
Right-wingers like Coleman try to appeal to what is being described as the “new-poor” ie. the deserving poor and not the working class poor which apparently don’t exist in significant numbers should you believe the hype. I mean, the media.