Post to Facebook on 22/4/2020 5:11 PM
Commenting on “Global economic shock caused by coronavirus pandemic”
A few months ago, Australians were more concerned about declining in housing financing and weak income growth, but now the coronavirus pandemic bring forth two gigantic nightmare, namely unemployment and population decline.
The pandemic kicks start a depression, and this could trigger loan defaults and foreclosures. This would exacerbate price declines.
This is the first time Australia is facing the biggest population decline in history. More than 300,00 tourists, temporary workers, and students have already departed Australia this year. It is expected another 300,000 people could leave the country to return home by year’s end.
In 2018-2019, international education contributed $37.6b to the Australian economy.
The decline in international students coming to study has a negative impact on the survival of the higher education sector, as well as on accommodation demand, especially in the CBD areas and near the institutions.
Due to loss of employment or reduction in income, many young people move back to stay with their parents instead of living out in rental properties.
This is a global economic shock, and the recovery will take quite some time. However, for the cash rich, the opportunity has arrived!
Thank you for reading.
Commenting on “Global economic shock caused by coronavirus pandemic”
A few months ago, Australians were more concerned about declining in housing financing and weak income growth, but now the coronavirus pandemic bring forth two gigantic nightmare, namely unemployment and population decline.
The pandemic kicks start a depression, and this could trigger loan defaults and foreclosures. This would exacerbate price declines.
This is the first time Australia is facing the biggest population decline in history. More than 300,00 tourists, temporary workers, and students have already departed Australia this year. It is expected another 300,000 people could leave the country to return home by year’s end.
In 2018-2019, international education contributed $37.6b to the Australian economy.
The decline in international students coming to study has a negative impact on the survival of the higher education sector, as well as on accommodation demand, especially in the CBD areas and near the institutions.
Due to loss of employment or reduction in income, many young people move back to stay with their parents instead of living out in rental properties.
This is a global economic shock, and the recovery will take quite some time. However, for the cash rich, the opportunity has arrived!
Thank you for reading.
