| ANZ Bank's Australian chief executive Phil Chronican has said the government's first-home buyer stimulus did nothing but drive up property prices, and warned that mortgage arrears would remain high as consumers struggled with cost of living pressures.
As bank shares fell further on the market yesterday, Mr Chronican said local housing prices were likely to remain flat but governments and regulators needed to address the chronic demand and supply imbalance in domestic property..............................................Full Article: Source
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