Currently, up to one in four households with a mortgage is faced with negative equity. At the same time, one in seven is coping with unemployment. It is likely, then, that there are in the region of 20,000 homes faced with both negative equity and unemployment. If the Live Register reaches 500,000 and house prices fall another 25% in the next year, this figure could treble to 3.5% of all households.
Irish households hit by both unemployment and negative equity