Treasury chief keeps the borrowing wheels inmotion
NTMA chief executive Michael Somers has done what it takes to soothe investors
It was not that long ago that prospective homeowners measured their ability to borrow large sums as a badge of success.
Even those on modest incomes marvelled at how their bank considered them to be so creditworthy that they could be offered mortgages of up to eight or even nine times their salary. The more they borrowed, the more they were able to spend.
It was only when the property crash struck that the folly...
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