Everybody is talking about the coming Bubblegeddon which is going to hit the Australian housing market. It could hit tomorrow, it could hit in a couple of years. No man knows the day.
Dia Beltran takes a look at the Housing Affordability Crisis in Australia, summarises the key statistics and identifies the key culprit: Turbocharged Immigration. Australia’s ponzi economy is currently based on importing hundreds of thousands of new customers each year to keep our construction industry alive, now that our heavy manufacturing industry has been taxed, unionised and regulated out of existence.
Dia makes an important point which is oft repeated at The XYZ:
“What this force fed immigration means is that it is creating an illusion of economic growth.”
Guess we’re just going to have to tell all those high-IQ, hardworking migrants who share our values to go somewhere else.