Murdoch is on the warpath.
Banking giant ANZ’s revised forecast this week that capital city home prices would fall 10.6 per cent from peak to trough in the current slump – led lower by Sydney sinking 14.5 per cent and Melbourne falling 12.8 per cent – is the most dire prediction made following the May federal budget.
…Mr Bassanese said if property prices nationally fell 15-20 per cent it could “tip the economy into recession because of the hit to wealth and consumer sentiment”.
