Ann: Business Update, page-12

Hey Buddy,

Your predictions are not too far away from becoming a reality.

"Mortgage stress levels among Australians have continued to soar amid the global outbreak of COVID-19, with data showing more than 1.4 million Australian households are now in mortgage stress and almost 100,000 could soon default on their loans"

"As Australia enters its first recession in 29 years, market analysts and economists predict that once the JobKeeper payment ends in September, and mortgage repayment holidays are over, these levels of cash-flow stressed households could quickly translate to mortgage defaults."

"The latest data from Digital Finance Analytics (DFA), based on its rolling household surveys, reveal that to the end of May, the percentage of households in mortgage stress reached 37.5 per cent, which equates to 1.42 million households."

Now this only assumes the impacts from mortgage holidays..... Hasn't factored the impacts from rental arrears, which are anticipated to be in some serious stress.

& we already know that Australia has the second highest hosehold debt in the world! With severe cuts to income, we could take the number one spot...

https://www.abc.net.au/news/2020-06-04/covid-recession-mortgage-stress-default-home-loans-jobkeeper/12318274