Why are Buy to Let Mortgages being allowed fester?

Brian M. Lucey

The mortgage crisis is the rancid gift that keeps on oozing.

The publication this week by the Department of Finance of mortgage arrears figures highlights the festering lethargy that has characterised much of the Irish response to the financial crisis.  That it publishes slightly different figures on the same issue as the central bank highlights the embedded inability of the Irish state to engage in any sort of joined up thinking.  The central bank data is of end March, the Department of Finance end April.  They use slightly different presentations and slightly different emphases on the same dataset. To get a full picture of what is going on one needs to read two publications and interpolate two different time series. Why is this effective duplication allowed? Why is it needed?  Why do we not have ONE official source, weekly or monthly or quarterly or whatever, from ONE state agency providing…

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