Boomer population booms to record high proportion of population as the percentage of Australians under 18 continues to shrink.
  • notgold@aussie.zoneEnglish
    0·
    7 months ago

    Excellent news for a lot of those immigrants too. People do move here willingly for a better life too. Yeah rich people are getting richer but those immigrants and their families (which I am) have a better life too. Not trying to push on you but something can be a win for all.

    • 𝙻𝚘𝚗𝚐𝙼𝚊𝚌𝚃𝚘𝚙𝚙𝚎𝚍𝚄𝚙@aussie.zone
      0·
      7 months ago

      Perhaps you aren’t aware that we have a housing crisis in Australia.

      Record low rental vacancies. Housing is too expensive and scarce for people on median incomes.

      The people we import typically have enough money to displace those who don’t. Those who don’t end up homeless. Our politicians don’t give a fuck as many own multiple investment properties.

      • notgold@aussie.zoneEnglish
        0·
        7 months ago

        Many people that come to Australia have money; Many do not.

        Free movement of people and immigration is a pillar of Australian life.

        For those who’ve across the seas We’ve boundless plains to share

        Unless your from a first peoples background, you owe your lifestyle and wealth to immigration. A little hardship for the greater good is something we should all except.

      • yistdaj@pawb.social
        0·
        7 months ago

        I don’t buy the idea that immigration is the cause of the housing crisis, any more than young Australians buying their first home. I’m not even sure if it’s the investors either. They all may be sources of demand pressure, but I think there’s a sort of blockage in Australia’s housing market, and I would pin the blame of high housing costs on that blockage.

        We live in an economy that assumes that the basic ideas of supply and demand lead to capital investment into production, leading to more supply. In housing, the way it’s expected to react to increased immigration is as follows:

        1. Increased immigration leads to increased demand for housing.
        2. Demand for housing leads to higher house prices.
        3. Higher house prices lead to higher demand for construction.
        4. Higher demand for construction results in more profits for construction companies selling houses.
        5. Construction companies reinvest more of their profits into making houses, increasing supply of houses.
        6. Increased supply causes housing prices to drop back to where they were before immigration rates increased. I takes a few years, but it’s supposed to be “self-adjusting”, always restoring prices back to a theoretical “ideal”, not counting inflation.

        Except as we all know, it doesn’t do that, at least with housing. In particular, I think steps 3, 4 and 5 don’t follow in the modern Australian market. I think the key to solving the housing crisis, short of the government building it all themselves, is to figure out why 3, 4 and 5 don’t follow, and to change things so that they do.

        It might look like decreasing immigration would at least alleviate demand pressure, but that’s just kicking the can down the road. There isn’t enough housing supply for demand caused by our natural birth rate, and so we’re accumulating demand pressure anyway. I view it as a distraction from discussing real solutions, that allow housing prices to not just increase more slowly, but fall.