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rn101

57 Posts.

08/04/20

13:04

Post #: 43949489
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Originally posted by eclipse: ↑

Today AFR has quoted Louis Christopher from SQM Research.

"If most of the restrictions were kept on for, say, a solid six months as a result of potentially a second wave of virus attack occurring, this would be a very bleak scenario for the housing market."

"This would be the worst-case scenario that's very much on the cards. You couldn't rule out a 30 per cent decline in property prices if restrictions were extended for six months. "

"Because, in my view, Australia's economy would enter into a recession with a high probability of entering into a depression."Mr Christopher said the Sydney and Melbourne markets were particularly vulnerable to such a scenario.

"Despite the market correction during 2018 and early 2019, these two markets remained overvalued and there was a lot of debt supporting these markets," he said.

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Just saw that credit ratings agency S&P (Standard and Poors) have now put Australia's triple A credit rating on negative watch =(
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