I saw in my browser history the last thing I had looked at on the abc news site and it was something about housing in 2019.
www.abc.net.au/news/2019-05-09/australia-riskiest-suburbs-for-home-loans-revealed/11056136
It was all about the risk of different suburbs across Australia and the lending standards as credit dried up.
It is amazing then that due to Covid prices went up and credit seemingly became easier to get. Who would have realistically guessed that this is what would have happened?
Did Covid save us from a recession? Did Covid inflate our already inflated housing market and stop it from having a correction?
"save us from a recession" that's rich people speak, inflation serves only to make poor people poorer.
Select to expand quoteFormulaNova said..
It is amazing then that due to Covid prices went up and credit seemingly became easier to get. Who would have realistically guessed that this is what would have happened?
It was nothing to do with a virus and everything to do with a massive injection of cash into the economy to offset lockdown and vaccine mandates. Government spending more than it recieves in taxation is what drives inflation. It certainly propped up the economy at the time, but now we are paying the price with significant levels of inflation. We are already in a per capita recession.
