The Economy, Stupid
Immigration: Costs and benefits
Jun 27, 2024
Experts discuss the impact of immigration on Australia, addressing housing market issues and the need for skilled immigrants. They explore improving English skills, recognizing overseas qualifications, reducing discrimination, and a successful immigrant program in Ararat.
28:57
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Quick takeaways
- High immigration rates in Australia have worsened the housing crisis by creating a shortfall of 200,000 to 300,000 homes.
- Reforming the immigration points system to prioritize skills like qualifications and work experience can benefit skilled migrants and the economy.
Deep dives
Immigration's Impact on Housing Crisis
High rates of immigration in Australia have exacerbated the housing crisis, leading to a cumulative housing shortfall of 200,000 to 300,000 homes. Despite the need for about 250,000 new homes annually, only around 170,000 to 175,000 have been built, contributing to rising housing costs. The construction sector faces challenges like labor shortages and high material costs, further hindering home construction.
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