New research from economic think-tank, the ESRI, today said that 64pc of mortgages taken out in the boom times are now in negative equity. It said that, using loan level data from the period 2005 to 2012, shows that approximately 214,000 mortgages drawn down between 2005 and end-2012 are in negative equity. The research found that those first-time buyers who got assistance (e.g. from parents) to purchase a dwelling during the boom have a similar experience of the depth of negative equity as first time buyers (FTBs) who purchased without assistance. The wealth loss experienced by Irish households is substantial, estimated at almost E43 billion, indicating that the impact of the price crash is much broader than negative equity, the research paper said. "Households still in positive equity may also be experiencing effects similar to those in negative equity due to the loss in wealth. For example, they may feel the need to increase savings to compensate for the decline in equity." The majority of those in negative equity are aged under 40 years, with much of the wealth loss from the fall in house prices concentrated in the 30-39 year old age group. "Traditionally, this is the age group that is active in the housing market, either buying their first property or trading within the market. With only moderate growth in house prices expected this suggests that there is a generation of mortgage borrowers whose experience of the housing market will have been overwhelmingly negative and who will remain in negative equity for some time." For more visit www.businessworld.ie