These points are completely separate from your comments about...

These points are completely separate from your comments about the quality of immigrants which is poor form. I agree with the rest at the margin, but immigration cannot be stopped as the banks, the rich and the ruling class need property prices to rise to support their vested interest in growing their wealth. But like I said this problem is at the margin because although immigration flows could be dialed back they cannot be stopped absolutely.

The bigger issue for banks are:
1) The $160 billion of loan deferrals reported today - The value of this is about the market cap of CBA + ANZ. Will the borrowers with this debt be able to service it with the additional capitalised interest accumulated throughout the holiday period?
2) Zero/negative interest rates - Look at share prices/margins for the majority of lenders across Europe over the past 10 years
3) Regulatory penalties - On top the fines and punitive measures for the banks' bad behaviour over the last two decades has nowhere near been dealt with