Development and no immigration

Discussion in 'Development' started by lixas4, 21st Mar, 2020.

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  1. lixas4

    lixas4 Well-Known Member

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    Interested to know if there has been any economists talk about what happens to current development projects when there is no more immigration for 6+ months.

    Read a post by @petewargent from his blog (Pete Wargent Daily Blog: Population swells +371,000 (or...'swelled')):

    "Net overseas migration of +232,000 over the year to September 2019 resulted in total population growth of around +371,000 to 25.34 million, with the remainder accounted for by natural population increase."

    With a 6+ month intake hiatus, does that mean at least 116k less people will be looking for dwellings? But in 6 months or whenever the tap gets turned on, will the govt turn it on big time to help stimulate the economy?

    Interested to hear peoples thoughts on current projects, what there sales strategy is and what they think will play out.
     
  2. marmot

    marmot Well-Known Member

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    Immigration will be hit for longer than that if unemployment rates really skyrocket.
    So will lots of other visa classes for certain skills as the government tries to get the unemployment rate down.
    State and federal debt will go ballistic, so lots of hard decisions about wasting money on ineffective programs that just pump up asset prices.
     
  3. Leeroy93

    Leeroy93 Well-Known Member

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    Hopefully the drop in the AUD may offer an incentive for immigration demand when this passes. Always many scenarios that can play out and many people looking for greener pastures if we do manage to hold it together.
     
  4. shorty

    shorty Well-Known Member

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    Spot on
     
  5. JohnPropChat

    JohnPropChat Well-Known Member

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    Why would a lower AUD be attractive to immigrants?
     
  6. marmot

    marmot Well-Known Member

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    Give people 6 to 12 months of social distancing , especially in the cities and immigration will become a dirty word for a few years, hows the one metre gap going to work on public transport , around major intersections in the CBD and office block elevators going to work and leaving in the afternoon.
     
  7. Leeroy93

    Leeroy93 Well-Known Member

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    A terrible scenario to play out of course. People will not forget this quickly, but they will adapt and businesses will adapt to new ways of working. I think we are in a better place than most nations to come out of this as an attractive place to live. We have a sound financial system, modern healthcare and infrastructure that should not materially change over the next 6-12 months.
     
    craigc and David_SYD like this.
  8. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    6 mths. More like 12++
     
  9. Leslie

    Leslie Well-Known Member

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    Compared to other major developed countries and Europe, Australia has handled this Covid virus well and this will be a bonus point for migration. People living in US, UK and China will start to think about migrating to Australia or NZ in near future. But this might take few years to actually happen due to slow visa process. 2022-24 may see a boom in migration and increase in housing demand.