Housing Crisis Directly Linked To (Asian) Immigration

Australian working families, indeed every Australian, face a housing crisis. Whether they are trying to buy a home or rent one, the problem of affordability stares at them coldly.

Professor Julian Disney, who was the co-ordinator of the Australian National Affordable Housing Summit, opined recently that housing was slipping beyond the grasp of the people. Property prices were artificial, he said.

It was no secret to the attendees at the Summit that immigration has driven up prices and interest rates (and therefore rents).

The immigration patterns of the major cities show an intensification of Asian immigration. Immigration last year from China, South-East Asia and India, was up last year and this year, the net gain of over 140,000 - will also reflect this pattern. With immigration skewed also to people with money, there will again be pressure for rises property prices and in interest rates.

It is also an open secret that companies like Meriton build units across Sydney, which are then sold to overseas buyers as a means to coerce the immigration 'points' system.

The case is building for zero net immigration as a necessary stabilisation measure for Australian social life. However, in the cargo cult world of the free marketeers, this case will be rejected until Australia enters social meltdown.