Oireachtas Joint and Select Committees
Wednesday, 2 April 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Mortgage Arrears Resolution Process: Discussion
5:10 pm
Mr. Brendan Burgess:
In most situations, people are paying €10,000 per annum in rent. People who did not take out mortgages are renting homes. They are going to reach the age of 65 without any property or mortgage. We do not tell a worker on the average industrial wage that it is unsustainable to pay €10,000 per year in rent because he or she will not be mortgage free after reaching the age of 65 years.