Originally Posted by
percy
Below is part of a letter my brother sent me a few days ago.He is a retired valuer,who valued farms,commercial and residential properties.He lives in Hobart and is currently on holiday in Queensland.OK deals with Australian issues.I see similar issues arising here.
We will never see the end of this mess. Last Saturday finance reported that mortgage holders , 8% were using the Bank holiday of interest only, 22% were on Jobkeeper ($750/week to firm then employee) ,15% on Jobseeker (the Dole) of $557.85/week which will return to normal of $282.85/week in January. Then 11% have cashed early superannuation. 3.3 million of the 6 million who have a mortgage will need to find a job within six months or they will default. The average mortgage is $467,700 so that is more than $1 trillion. The rescue package allowed company directors to trade while insolvent for six months. After the 25th September, unless there is more Federal money, there will be a ‘tsunami ‘ of insolvencies. Noted many shops vacant on our travels.
Ended Alexandra Beach and now at Broadbeach till 24th then direct flight Brisbane to Hobart. Having trouble with G2G form re entry to Tasmania and likely will l have to home isolate for 14 days.