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July 28, 2020 | ABC News: Sydney Rents Drop and Thousands of Homes Lie Empty Amid Pandemic

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

As in the most populated areas of Canada, uneconomically high property prices and rents in Australia were only made possible by unsustainable domestic debt levels.  COVID-19 is proving a mean-reversion catalyst.

Sydney’s rental market has changed rapidly since the start of the pandemic. Thousands of homes across the city are sitting empty and rents have been heavily discounted. Commercial rents are taking a dive too as shops go out of business and companies rethink the need for expensive office space.  Here is a direct video link.

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July 28th, 2020

Posted In: Juggling Dynamite

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