“Very Generous Immigration Program” Pushing Out Would Be Home Buyers

Australia used to be the country where everyone could afford to have a home of their own. But for far too many of today’s young Australians, that is no longer true. Housing affordability has declined.

Treasurer Joe Hockey confirmed yesterday in New York in an interview with CNBC that our large migration program is one of the key drivers of housing unaffordability for young people.

He told CNBC that “Australia is a long way from a housing bubble….The fact is we have a very generous immigration program and we have very slow supply coming in the market”.

Read more at: http://kelvinthomson.blogspot.com.au/2013/10/very-generous-immigration-p...

and http://www.theage.com.au/comment/the-age-letters/quality-of-life-will-co...