Why Helping Those Who Borrowed Unwisely Makes Sense

Some voters have asked why the rest of us should share the burden of the people who are caught in "negative equity", as a result, it is said, of their own bad judgement.

I hope to post my own response here - which differs in emphasis - before long, but in the meantime it might help if those interested had a look back at this article from "The Irish Times".

A discussion on Stephen Kinsella's blog at about the same time is also useful. My viewpoint would be closer to that of Stephen than of his critics.

Comments

[Paul]

I think it's disappointingly uncharitable that people would not be open to the possibility of supporting distressed home "owners". In many or most cases these individuals are relatively innocent victims of an unfortunate intersection between their own life stage and the implosion of a sick housing market.