COVID-19 is not a ‘financial crisis’ but a ‘health crisis turned productivity crisis’

REA Group Chief Economist Nerida Conisbee says Australia is "not in a financial crisis", but rather "a health crisis that has become a productivity crisis". "People are still able to - or are starting to be able - to get relief on their mortgages - we've had an interest rate cut which has opened up finance. "All of this is leading to far more stable conditions in the properties market as opposed to the equities market." "The issue for a lot of people is remaining employed. We need to keep in mind it is a short-term crisis. People will lose jobs and be back in work within six months." Image:

from National | Daily Telegraph https://ift.tt/3bhgYmm