Thursday, April 9, 2020

Prepare for steep house price falls and negative equity "at margins", warns Bank of Queensland boss George Frazi

Bank of Queensland chief executive George Frazis warns of steep fall on housing prices as coronavirus fallout bites and that, at the margins, there could be some cases of negative equity. 

But Mr Frazis tells AM, the federal government is likely to step in with more stimulus if unemployment goes into double digits to protect distressed borrowers. 

The banking veteran tells ABC's Peter Ryan, the key to any economic recovery is lifting lockdown measures sooner rather than later. 

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