"As we go through the year, we are expecting some of those announced job losses will turn into actual recorded job losses."
It came after his weekend speech.
There is good and bad news for borrowers this year.
"All of these things drive up costs and slow down the economy."
High prices and a growing population were not enough to prop up sales.
Here's why that could be good news for mortgage holders.
The Government unveiled a $20 billion transport plan on Monday.
But sales volumes are relatively low due to high mortgage rates.
"This did not reflect well on those who decided and chose this process."