Even vultures won’t touch stinking Melbourne McMansion carcass

Wednesday, 23 October 2019

Fuelling the forecast rise in defaults is a reluctance by the non-bank lenders to extend credit. Some have now drawn up “no go” lending zones across Sydney and Melbourne.

Allen Walker, a partner at receiver and manager Cor Cordis, said he is anticipating more business will come from loan defaults in the coming months.

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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.