PREMIUM!

The property market’s foundations are crumbling

Editorials 8 months ago

Government must give serious consideration to emergency aid for people who rent and those who pay bonds.


12 May 2020
PREMIUM!
The property market’s foundations are crumbling

Job losses are likely to reverberate through the housing market in coming months. AFP/File/Frederic J. BROWN

The property market is getting battered by the coronavirus and its impact on the economy. But why should that matter, given the financial collapse all around us? The reality is that property is the foundation on which a strong middle class is built. Houses – or more correctly, homes for young stable families – are vital for the sort of economic stability which this country needs to get going again in the wake of the Covid-19 destruction. The outlook, though, is ominous. Property sector experts are predicting that as many as one-third of all property renters are going to go...

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