The only reason we have not seen more evictions in Ireland is because of the poor repossessions system, according to the Irish Mortgage Holders Association.
Members of the association appeared before the Housing and Homelessness Committee earlier today.
They expressed concern about how vulture funds are operating, and the mental health pressures being put on mortgage holders by creditors.
David Hall, Director of the Irish Mortgage Holders Association, says that we are lucky that there has not been more repossessions already.
"We have a cumbersome, slow, crap - thankfully - system of repossession," he explained. "That's the only grace that has saved us - the dysfunctional system".
Meanwhile, a Government TD says even people on large salaries cannot afford mortgages or rent at the moment.
Fine Gael's Bernard Durkan told the committee that the fallout of the property bubble is still being felt.
He said that even TDs - who earn around €90,000 a year - cannot afford to get mortgages at the moment.