Marc Coleman : Multi-generational Muppetry

This strikes me as the greatest load of economic muppetry I’ve ever seen written down.

Marc Coleman the man who wrote “The Best Is Yet To Come” in 2006 and bought into the Irish Property Bubble right at the very top still gets to write about half-baked solutions to the problem he couldn’t spot in the first place.

“Sorry Mary, we can’t go for that dream starter shoebox in Adamstown, I’m still paying the multi-generational mortgage on the dream starter shoebox in Gorey my parents bought 53 years ago.”

Coleman you are a multi-generational FUCKWIT of the highest order.

The whole article is pure muppetry. I also note that he did not declare a personal interest in the solutions he proposed.

I genuinely believe Coleman is unhinged.Why he is given a platform for this nonsense says more about our media in general than anything else.
Marc won’t complain, he’s getting paid.

“Marc coleman has invented a new weapon which destroys the lives of hundreds of thousands of people while leaving buildings intact.”

  • Alexei Sayle

Marc bought his house in 2005

I think it’s time we redecorated wee Johnny’s bedroom. He’s 46 now and I think he’s outgrown the Noddy wallpaper.

Does he think all generations of the one famly are going to live together like the Ewings in Dallas?

All the people with these one-beds are going to have to significantly readjust their notions of modesty.

The most alarming bit of all this is not multi-generational mortgages per se, it is the ending of a long established idea that debt is extinguished on the death of the borrower - i.e. it dies with the borrowers estate. If the borrower dies insolvent, that is tough tittie on the lender. If the borrower has life insurance, that’s fine, the lender gets paid and the estate gets the asset. But intergenerational debt is an attempt to enshrine the idea that you can bequeath debts.

I was at a wedding a few months ago and got chatting late in the evening (as you do) with a fellow who was convinced that an attempt was being made to turn us all back into debt slaves of an insect overlord rich class. I pooh-poohed the idea saying our european colleagues with their concepts of society and fairness wouldn’t stand for it. I am no longer so sure. If we ended up voting ourselves into slavery because enough believed, as Mr. Coleman clearly does, that the solution to their personal financial idiocy was to bequeath their debt (so they wouldn’t have to attempt to clear it), to sell their children into bondage, would we be saved from ourselves?

Obviously this is the best bit that was yet to come.

Can the children say “Screw you, don’t want your house, don’t want your debt”?

Some interesting omissions from colemanballs’ list of the guilty. The media? Self-appointed economic experts?

Actually I think he bought his house in 2007, even better.

Fucking amoral fuckwit. I was sitting next to him on the DART once while he was chatting on his mobile. “HELLO THIS IS MARC COLEMAN” he felt the need to repeat several times, sneaking looks around him to make sure people were watching.

This suggestion by Marc Coleman is utterly moronic.

Mortgages longer than 25 years should be banned unless you qualify as a Doctor at 20 …in which case I would allow 30 years :frowning:

If someone is given 40 years in jail for a murder but dies after 20 years, do their kids have to take up the slack ?

Not fair, I don’t have a mortgage. They should extend it to credit card debt. Kids - Ma is going to BT2!

March 2008 - look away now if the sight of blood on someone’s hands offends you!

independent.ie/opinion/analy … 32198.html

It’s a hideous concept. You’d essentially be making your kids serfs.

Yeah, you’d have the bizarre situation of the kids going guarantor on the parent’s mortgage.

I don’t see how it would ever be possible to make people legally responsible for the debts of their parents.

I also don’t see how this would work considering people’s increasingly annoying tendency to continue living for a few decades after they become economically inactive. What happens to the mortgage for the time period between retirement and death?

How about allowing for high unemployment and swingeing cuts in welfare? This guy only ever saw things going up.

I don’t call this suggestion equitable. I call it fucking insane. What would have been equitable is if house prices remained inline with inflation rather than bubbling into get rich quickly territory.