Posted to The Age (3/8/2020) on 3/8/2020 (not published by the newspaper)
Commenting on “Sydney and Melbourne house prices tumble through July
https://www.theage.com.au/politics/federal/sydney-and-melbourne-house-prices-tumble-through-july-20200803-p55hxd.html
Tumble? Not quite yet. Interested parties disclose or present the data in a manner that suit their purpose.
Many house owners are still hanging in there hoping the bad wind will blow past. Shortage of listings keeps prices relatively stable if not slightly higher.
The real tumble is round the corner, because the mortgage repayment deferral honeymoon period will terminate, along with the reduction in JobKeeper and JobSeek payments.
Another disastrous scenario is that some withdraw superannuation money prematurely and put down as a deposit for a new home. These are the vulnerable group, who may lose their jobs after the pandemic is over
Middle managerial positions are just as shaky as the lower level employees. If the latter lose their jobs, there is no need to have the extra personnel in the managerial and supervisory roles.
All these unfavourable conditions will mean house owners have to cave in and let go of their castles after September.
For the agents representatives and agents, this is time to call whoever in your contact list and keep them talking.
Thank you for reading.
Many house owners are still hanging in there hoping the bad wind will blow past. Shortage of listings keeps prices relatively stable if not slightly higher.
The real tumble is round the corner, because the mortgage repayment deferral honeymoon period will terminate, along with the reduction in JobKeeper and JobSeek payments.
Another disastrous scenario is that some withdraw superannuation money prematurely and put down as a deposit for a new home. These are the vulnerable group, who may lose their jobs after the pandemic is over
Middle managerial positions are just as shaky as the lower level employees. If the latter lose their jobs, there is no need to have the extra personnel in the managerial and supervisory roles.
All these unfavourable conditions will mean house owners have to cave in and let go of their castles after September.
For the agents representatives and agents, this is time to call whoever in your contact list and keep them talking.
Thank you for reading.
