Published: March 20, 2020
Economists say house prices could fall as much as 20% if the recession lasts longer than six months
The Reserve Bank’s dramatic $90bn boost for the financial system will not be enough to save the housing market from a possible crash as Australia heads into a coronavirus-driven recession.
Along with billions in emergency lending for small businesses, the RBA cut the cash rate to zero on Thursday in what would normally be a signal for buyers and investors to pile into property.
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