Kelvin Davidson: CoreLogic Chief Property Economist on the reasons mortgagee sales remain low
Early Edition with Ryan Bridge · Newstalk ZB
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Show Notes
Reports that demand for financial help is growing among employed people and property owners.
CoreLogic data shows that despite interest rates doubling over the past two years, mortgagee sales remain below pre-pandemic levels.
But it says this is a "fingers crossed scenario" and is dependent on people's ability to keep their jobs and maintain home payments.
CoreLogic Chief Property Economist, Kelvin Davidson, told Kate Hawkesby that while it is dependent on other factors, the key one is that basically nobody wants a mortgage.
He said it doesn’t help that banks don’t help the borrower, and do things such as switch interest rates, and extend the term of the loan.
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