A low migration scenario in Australia would require a complete overhaul of our national business model. This is not likely and looking up to 40 years into the future, the only plausible migration scenario for the nation is a high one.
There are ways the government can make home ownership more realistic for young Australians, such as streamlining construction, revising taxes and stamp duties, and ditching schemes like first homeowner grants.
A common assumption is that housing price rises help more people than they hinder but this is unlikely to be true across the whole economy.
High levels of violence and crime, and a lack of social cohesion are common side effects of wealth inequality, so it’s in the interests of all Aussies to tackle the growing gap.
Despite their currently very pessimistic view of housing, gen Z could actually enter a property market in the 2030s that is more affordable than it is today.
Australia is undoubtedly a migration nation, but as more countries seek to attract a smaller pool of potential migrants, we need to ensure we still attract the skilled workers needed to drive the economy.
They might be the forgotten generation stuck between two big personality eras, but a gen X spending boom is coming as they get set to inherit just as their kids stop depending on them.
Politicians calling for slower migration figures look like they are tackling housing affordability. That way they can avoid making bold housing policy choices that would inconvenience voters.
Even baby boomers will eventually see their health decline to a point where unassisted living is impossible and this has significant implications for the overall population and our aged-care system.
We need to stop thinking about building more houses and instead get on with manufacturing them, because technological advances mean that they can be mass produced to meet demand.
Original URL: https://www.theaustralian.com.au/author/simon-kuestenmacher