When those overseas investors sell their properties at a loss, someone else will take out a new loan to buy those properties. Making a loss is the risk you take when you invest. Meanwhile the banks business continues.
I thought the interviewer was a bit rude in the way he scoffed at pretty much all the people he interviewed. During the gfc Spain, Ireland and USA had unemployment between 10-20%. There's a number of reason why property prices crashed in each case. Just having expensive houses is not a reason for crashing.
NAB, Banks and Looming Mortgage Crisis, page-7
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Last
$37.28 |
Change
-0.010(0.03%) |
Mkt cap ! $114.6B | |||
| Open | High | Low | Value | Volume |
| $37.24 | $37.47 | $37.04 | $80.51M | 2.160M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 10038 | $37.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $37.37 | 392 | 1 |
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