It could be an absolute game changer in destroying confidence in Australian property. Who would want to buy an Australian investment property now?
Unless this is rectified and fast, Australian property will never be worth as much as it was before the crisis and that will cause long term weakness in WBC and every other Australian Bank for that matter.
WBC will have to drop interest rates significantly for the duration of the crisis, perhaps an interest rate holiday for six months on all mortgages?
WBC Price at posting:
$15.45 Sentiment: Hold Disclosure: Not Held
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