PHOTO: Australia
Fears of a US recession were ignited after the US-China trade war shook up global stock markets, including the ASX which saw $60 billion wiped from the local bourse last Thursday.
While economists don’t predict this on the cards, a US recession would nonetheless have direct implications for global growth – which will ultimately hit our struggling local economy.
And if a recession did hit Australia, what would happen to the national housing market?
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According to Yahoo Finance property expert Michael Yardney and realestate.com.au chief economist Nerida Conisbee, house values aren’t destined to fall even if our economic growth does.
It’s jobs we need to worry about
“While we may have a ‘technical recession’ – a period of temporary economic decline with a fall in GDP in two successive quarters – it is unlikely to lead to significant falls in our property markets,” Yardney told Yahoo Finance.
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