Sir, - The article on the property market by Ross McParland (The Irish Times, December 31st) was interesting but ended on an irresponsible note. The main factor in house prices is supply and demand. But coupled with this is the scaremongering and "hype" cleverly disguised as advice by Mr McParland.
His advice to first-time buyers now is to "delay no longer - get a foothold in the market as soon as possible". This is self-serving rhetoric designed to ensure a steady flow through the doors of Ross McParland offices of naive first-time buyers armed only with a mortgage and the growing fear of being left behind in the race to home ownership. When living in London I witnessed the despair suffered by many first-time buyers who had their homes re-possessed after boom turned to bust almost overnight. Then as now, first-time buyers were "advised" to get a foot on the property ladder as soon as possible.
First-time buyers should try to be in possession of all the facts before falling prey to the hard sell afforded a mouthpiece by an otherwise fine newspaper. - Yours, etc.,
Odran Francis,
St Peters Terrace, Sandycove, Co Dublin.