The Australian’s Robert Gottliebsen has demanded a rapid return to mass immigration to back fill the oversupply of property investment and infrastructure:

Our nation is structured on migration plus overseas students covering a declining birthrate, but migration and student intake have stopped. We will need to start them again…

Around Australia we are building large amounts of infrastructure, including massive industrial and residential property expansion on the basis that our population will increase as it has done in previous decades…

For those countries seeking migrants the most exciting prospect at the moment is Hong Kong, and the UK is leading the way and taking a migration market that was “ready made” for Australia…

But if students do not return in something like the numbers of previous years and our migration remains restricted then we will need to adopt a new series of economic assumptions.

House prices will not keep rising because we will have built too much accommodation. The massive infrastructure projects we are now building assume a continuation of strong population growth.

The debt the states and the Commonwealth are building up as part of this investment will not be easily covered if the population stagnates and interest rates rise.

One of Australia’s problems will be that whereas the British are welcoming migrants, particularly those from Hong Kong, Australians are divided on this issue and have very little understanding of the impacts they…

Read more…