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It seems we are all going to get a dose of COVID 19 -...

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26/02/20

09:40

Post #: 43154911
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Originally posted by malmanu: ↑

A recession and job losses should see a 20% correction in house prices in 2021 . Throw in Coronavirus for another 10% correction.

https://au.finance.yahoo.com/news/interest-only-home-loans-to-convert-to-principal-and-interest-233230795.html

Around 730,000 interest-only loans will become principal and interest loans over the course of 2020, with the average repayment to increase by a whopping $3,600 a year. Most interest-only loans have a set three to five year interest-only period, after which they convert to more expensive principal and interest repayments.
And if borrowers took out a loan larger than the 2015-16 average of $395,000, the financial sting will be even bigger.

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It seems we are all going to get a dose of COVID 19 - https://www.theatlantic.com/health/archive/2020/02/covid-vaccine/607000/

The fatality rate for COVID 19 is about 2% - mainly older people - like myself. This of course could have serious ramifications for the housing market with so many old people living by themselves in their houses bought decades ago.
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