Property market collapse?
August last year the ABC published this Article.
One of the key arguments was that a ‘spike’ in unemployment would ‘lead to a market correction or potentially a crash’.
At that time property prices were only going up. And the thought of any sort of property crash seemed (at least in many mainstream circles) almost unimaginable.
Fast forward almost a year. Since the war in Iran there has been more stress on households especially those who rely on cars to commute. High fuel prices, interest rate increases.
I’m not sure how realistic this is but I think of all those people in outer ring suburbs with financed dual cab utes being used for daily commutes with diesel prices hovering around $2.40 a litre.
What will happen when the fuel excise is returned and diesel heads back up to $3 plus a litre?