The economic explainer for people who ask (every week) why migration exists amid a housing shortage. TL;DR 100,000 migrants are worth $7.1bn in new tax receipts and $24bn in GDP growth.. - **First of all, the fed government controls migration**.


Immigration is a hedge against recession, a hedge against an ... See More aging population, and a hedge against a declining tax base in the face of growing expenditures on aged care, medicare and, more recently, NDIS. It's a near-constant number to reflect those three economic realities. Aging pop. Declining Tax base. Increased Expenditure. And a hedge against recession.


Yeah, but how?


If you look at each migrant as $60,000 (median migrant salary) with a 4x economic multiplier (money churns through the Australian economy 4x). They're worth $240k to the economy each. The ABS says Australia has a 29.6% taxation percentage on GDP, so each migrant is worth about ($240k \* .296) $71,000 in tax to spend on services. So 100,000 migrants are worth $7.1bn in new tax receipts and $24bn in GDP growth.

​

**However, state governments control housing.**


s51 Australian Consitution does not give powers to the Federal government to legislate over housing. So it falls on the states. It has been that way since the dawn of Federation.

State govs should follow the economic realities above by allowing more density, fast-tracking development at the council level, blocking nimbyism, allowing houseboats, allowing trailer park permanent living, and rezoning outer areas.

State govs don't (They passively make things worse, but that's a story for another post).


**Any and all ire should be directed at State governments.**

Financially ruined? Can we fix this? - I will try to keep this as short as I can.

40yr female and partner is 39.
Husband works full time earning approx 90k
I’m part time earning 25k plus caring for our son who will be in school in 2 years time.

We ... See More both grew up in social housing, no real work ethic or any real idea of how to handle money. Please note. This is not an excuse just setting the scene.

From the age of about 25 we have made terrible financial choices due to problem gambling and drug addiction.

We are now both in treatment for this and are seeking professional help. Looking to start to put together our life again.

As a result over the last 15yrs we had been taking out loans we couldn’t afford, pay day loans etc we have defaulted on many of these. Even afterpay, klarna all those buy now pay later companies.

My credit score is terrible at 300, hubbys is worse at less than 200. We don’t own a home.

Our goal is to pay off our creditors, increase our credit score (can’t even get electricity in our name) and eventually purchase a small home we can afford.

The issue is, we have moved houses so many times and changed phone numbers that we have lost track of who and how much we actually owe.

What should our next steps be?

Should we get a copy of our credit reports from all the credit reporting bodies? And one by one go through and contact the creditors to organise a payment plan? I would suspect a lot of the debt would be nearing 5 years old, but I still want to do my best to pay them back. A lot of the debt has been sold to Credit Corp.

Please hold any harsh judgments. I know we have been irresponsible and we are trying our best to rectify and make amends.

I would estimate the debt to be about 40k in unsecured loans/pay day/credit cards.

Thanks for reading this far

EDITED TO ADD - I’ve just checked my report from equifax and a considerable amount of the debt on there says ‘DATE OF DELETION DEC 23 and JAN 24’
What does this mean? Is the debt sold to someone else?

My wife and I split. In about 4 months I will have 425k in cash, what should I do? - My wife and I seperated and are selling the house and splitting our cash. We have no kids. I make about $75000-100000 per year depending how much OT I do. ... See More I live in Perth and have a Chihuahua, so renting with my income and a dog is next to impossible. I will likely buy a townhouse so that he is comfy. Maybe somewhere around 550k price range, so that my repayments are only a couple of hundred a week. I have the option of having him live with a relative for a period of time as well.

I am in a bit of a transitional period and I am open to doing things a bit a different.

If you were in my position, what would you do?

Edit: I am 33 years old.

Labor blocked Qatar flights to protect Qantas’ profit

Intergenerational report: Younger Australians put negative gearing and capital gains tax on property at the top of their list of wanted reforms

Any of you going back to cash? - We've all seen those charts showing that cash usage is dropping rapidly in Australia.

Same here - I've been using only card for everything because it's so much easier to beep a plastic card (or phone) instead of carrying papers and metals around. ... See More But card surcharges have been getting ridiculous. Some places charging 2%?!

I am very much not comfortable paying 2% of my after-tax salary to tyro or visa or whatever, so I started paying for everything in cash. I do have the occasional shop that won't take cash, but tbh it's rare. I also have a very conveniently placed ATM just outside my bike ride to work so I always make sure I have a bit on me.

It's also a reminder of the tangible form of money, and makes it easier to follow how much I actually take and spend.

Anyone else doing this? Or am I a dying breed?

I (27F) just accepted a new job that will pay me $122k and I’m experiencing horrible imposter syndrome - I work in health care, but I’ve only been qualified for 2.5 years. My first job in 2021 paid $70K, my second job in 2023 paid $98K and now I’ve accepted ... See More a new job at a smaller company for $122K (all before super etc)

I’ve “upskilled” in my previous roles to a more challenging set of skills. I accepted and negotiated my opportunities to train in ways I know most of my colleagues haven’t felt emboldened to do. For reference, my colleagues with the same years of experience make around $83K.

However now I’m feeling massively under-qualified and like I don’t deserve this position…..

I was completely honest in my interview, I never overstated my skills, and my reference (who gave a glowing review) even admitted I may be inexperienced in the field but i make up for it in efficiency and patient care - my new employer told me that.

I asked them in the interview what they would consider the top qualities of a successful candidate. They said someone who gets along with the team and is open to challenges

While this sounds like me, I can’t shake the deep anxiety I’m not worth this kind of salary at this stage

For what it’s worth, I asked for $122K because it’s the very top of the range for this position and I already had a job lined up so felt it was a free-roll. Instead of negotiating, they simply agreed to offer me that much. I’m not complaining but I am freaking out over my own value now

Does anyone have insight on perhaps small businesses willing to take risks on less experienced people? Or perhaps let me know what they may be considering or expecting from me….

Does anyone else have this type of experience? I imagine it’s common. I don’t want to go into this situation insecure and have them think I’m not capable


Edit: wow, you’re all very kind and reassuring. I’ve read every comment and feel much better. I totally deserve this, and it’ll be a great challenge!