You were right
@Plague.
CBA's presentation today is a great way to have an update on what's happening regarding the housing market and consumption in Australia.
My main take : great resilience.
Of course, there are pockets of weaknesses :
- clear deterioration of consumption during the last 4 weeks (vs last 3 months) for almost all the generations,
- consumption decrease for younger generations,
- less months ahead overall for mortgages (29 months vs 32 months in Dec 22)
But the general impression is that things remain quite good :
- mortgage arrears (90+ days) are almost flat, at a very low level (0.47 % vs 0.43 % in Dec 22),
- and the weak consumption for the youngest generations is offset by a stronger consumption for the oldest generations, as the interest rate increases have redistributed the wealth.
