Agreed with your point - I also believe until the end of the...

Agreed with your point - I also believe until the end of the year, WBC is quite likely to fall into the $18-$20 range as the a higher chance of a recession in the next year. As for the yield, unless there is no big jump in the unemployment rate, otherwise I'll imagine no one is able to pay off the loan, a lot of writ-off of bad debt (for not being able to pay for the home loan) could occur for the banking sector (which means lower profit + reduce the dividends). Again, this will increase the volume of houses to be sold in the market and push house market prices down. However, the foreign investors that bring money to Australia will support house market preventing property prices from falling but it doesn't mean banking is safe in the short to mid-term. I have confidence in banks for the long term. That's just my personal thoughts.