Australian real estate fire sales increasingly unlikely, say experts

Wait – you weren’t counting on a fire sale, were you? Don’t put your hopes on finding a bargain right now. The banks aren’t going to squeeze people until they break, especially not in this market. You could say it would be ‘penny wise pound foolish’.

If the banks withdrew their support for people doing it tough because of the pandemic, the domino effect through the rest of the property market could result in greater losses than what they’re currently dealing with in deferring loan repayments.

What do you think?

https://ift.tt/3kh9zrH
Much-hyped real estate fire sales due to the economic destruction wrought by COVID-19 are becoming increasingly unlikely for the Sydney suburbs, inner city and CBD.