Australian house prices will go down if unemployment starts going up. Who can afford their mortgage repayments if they lose their jobs? Only the super-wealthy and they probably own the property outright anyway rather than pay 7%+ for a mortgage they didn't really need.
The inward migration argument doesn't stack up either - they will have less money now as their OS assets got torched by the markets. Plus what mining company is going to ramp things up now that the commodity complex has busted?
But, hey, we all need to live somewhere right?
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
26,683 |
Change
82.730(0.31%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 26,683 | 0.00 | 0.00 |