ASIC HEM changes to hit house prices

Tuesday, 12 February 2019

Sally Auld, a managing director and chief economist at investment bank JPMorgan, said a change to the laws would have a potential flow-on effect for house prices, which are already in the doldrums.

…“It would mean that every single person who went into the bank and wanted a mortgage would have to go through a verification process. It would take a lot of time and put a lot of impositions on the bank’s resources.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.