/biz/ - Business & Finance

>>11702027
Where will the buyers magically conjure up credit from? Credit tightened a lot more than 1 or 2 percent, more like 20-40%

https://www.baka.com.au/money/borrowing/one-in-five-people-with-a-mortgage-wouldn-t-qualify-today-broker-warns-20180719-p4zscl.html

>“Up to 20 per cent of people who took a loan out two or three years ago would not qualify for that loan today. In the last six months lenders have had this lightbulb moment of what ‘responsible lending’ means.”

>“Many of those people now wouldn’t qualify for a new 30-year loan,” Morgan says. This is because APRA is also requiring a serviceability assessment on new contracts where total repayments over the life of the loan would be higher, even if month-to-month they’re lower.”