Housing market facing biggest downturn in 40 years

By SBS News

Community Score: 50% | 7.1K views | 2w

0 community ratings: null thumbs up, null thumbs down

Australia's once-booming housing market is now on track for the steepest downturn in four decades. According to the Reserve Bank, close to one in every 100 borrowers now owes more than their property is worth. The government has defended the impacts of its housing approach, amid claims from the Opposition that the great Australian dream is now a nightmare. SBS News is Australia's trusted news source for the latest news from Australia and across the world. Subscribe to the SBS News YouTube channel: https://www.youtube.com/@SBSNews Follow SBS News on Instagram: https://www.instagram.com/sbsnews_au Follow SBS News on TikTok: https://www.tiktok.com/@sbsnews_au Follow SBS News on X: https://www.twitter.com/SBSNews Follow SBS News on Facebook: https://www.facebook.com/sbsnews Apple News: https://trib.al/MTx0gUe For the latest news, visit www.sbs.com.au/news Network Terms & Conditions: https://sbs.com.au/terms Privacy Policy: https://sbs.com.au/privacy Feedback or complaints: https:/

Tags: sbs, sbs news, sbs news live, sbs news australia, sbs world news, sbs news live now, news australia, news australia today, updated news australia, latest news, australia news latest, Australia, breaking, sbs world news live