Actually if everyone goes underwater and the bank goes under...

obsidianstar wrote a post · Mar 22, 2022 19:15

Actually if everyone goes underwater and the bank goes underwater... It's all of our problems as our economy will face some serious credit challenges and govt will either end up propping up the bank or the economy.

Our economic model is fragile to massive shocks and 60% house price drop would put a significant hole in bank balance sheets, let alone any homeowners ability to spend money (so good bye a chunk of general economic activity). $ANZ Group Holdings Ltd (ANZ.AU)$

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