Property News · March 3, 2017

Australian economy to suffer if housing market crashes


A crash in Australia’s “unprecedented” housing market could lead to a broader economic downturn, according to a report from the OECD .
In their first major review of the Australian economy since 2014, the OECD warned the housing market was showing “hints of a slowdown”, in what it identified as an “extreme vulnerability” for the economy.
“A large drop off in house prices could cut household consumption and increase mortgage defaults … The market…

Source : South China Morning Post
Read more…Australian economy to suffer if housing market crashes

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