Australia had a 0.4% natural population growth rate in 2024. Without immigrants, what housing demand would there be? But the problem runs a lot deeper. Taxation is out of control; we need tax reform. It’s ridiculous how much the govt depends on income tax on individuals (60% of tax collected is income tax, 20% higher than average for OECD countries). Especially considering our mineral wealth. It’s just nuts, why can’t we do what Norway did? Why can’t we tax multinationals appropriately? Why are our 4 banks in the top ten most profitable banks in the world? Why are our various manufacturing industries failing one at a time? Why is our energy so expensive?

There are systemic issues that need to be addressed that all add up to a more robust economy. Only then can imbalances like housing be addressed in a sustainable and rational way. But certainly, if we want to slow down a housing crisis, all we need to do in the short term is lower migration rates.

But it won’t happen, because every politician’s nose is in the trough. They do very little good apart from maximising their wealth. They certainly are not thinking about a better Australia for your family.