May 26

Mortgage Arrears hits record high

I haven’t seen the numbers myself but just read this headline on the ABC24 so I assume its true. I guess the headline means only more downward pressure on residential housing prices as those under pressure are forced to sell, and sell at whatever they can. Certainly if the mortgagee doesn’t sell then ultimately the bank will sell the property from under those in default so lets hope “record high” isn’t too high.

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