First home buyers, investors and businesses have now deferred $250 billion in loans after they were laid off, lost shifts or forced to close their doors because of the coronavirus. But a reckoning is looming for thousands of families when the current arrangements expire in September. MORE: Follow the latest virus news MORE: Bank boss calls to extend $1500 payment Prudential Regulation Authority chairman Wayne Byres told a Senate committee into COVID-19 on Thursday that some customers will be unable to repay their loans. “We often talk of the cliff, which is when everything ends in six months’ time,’’ Mr Byres said. “No-one has an interest in going off the cliff, so we have to work out what the next phase is going to be and that will be dependent on the economic situation at the time.” Sydney, Melbourne and Brisbane could face the biggest falls in value. Picture: Monique Harmer.Source:News Corp Australia Many more people are working from home in a move that could have implications for the property market.Source:News Regional Media Deloitte Access Economics’ Chris Richardson said the impact of forced sales on house prices might not be as great as the freeze on immigration. “It’s a $7… Read full this story
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