Business
Economic recovery will be ‘unpredictable and uneven’ RBA warns as it models 50pc property price fall – ABC News
More Australians could go into “negative equity” if the COVID-led recession leads to a big property price fall, according to the Reserve Bank.
More Australians could go into “negative equity”, where the value of their property falls below the outstanding balance on their mortgage, if the pandemic-led recession leads to a big fall in house prices, according to the Reserve Bank (RBA).
Key points:
- The RBA’s assistant governor says Australia’s economic recovery from the COVID-19 recession will be “unpredictable and uneven”
- Non-performing loans are expected to continue to rise as falling incomes make it hard for households to meet repayments…
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