Here it comes – and it ain’t pretty

At last, some truth.

This link from Bloomberg News 31 July 2018

https://www.bloomberg.com/news/articles/2018-07-31/are-house-prices-falling-from-sydney-to-new-york

This is but the tip of the iceberg.

Direct reports to me from Agents and Lenders in the marketplace are painting a far worse picture than that illustrated even by Bloomberg.

There are large areas where mortgage stress has been festering for the last couple of years.  Now we have a rising interest rate scenario combined with a rapidly falling sentiment.  Not a great combination.

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