Cheers. It is good to actually have a good discussion on the property forum rather than bulls v bears at each others throats.
I'd actually agree with your points of i) they'll just keep turning up the Syd/Melb focused immigration tap until it breaks and ii) life is too short to buy where you want. Buy elsewhere and rent the good life (yield is terrible however). Happy to face up to reality on ii) however i'm still a fair bit opposed to i).
Ultimately I just see it as another form of can kicking. Immigration is only really a solution when an economy has huge demographic challenges, Japan being an obvious example. Governments like it because it helps headline GDP growth, big business likes the EPS kick without the need to find efficiency and of course asset holders reap the rewards. But it is still a zero sum game with infrastructure costs for new arrivals ~GDP creation with their coming (not to mention lost productivity with lack of adequate infrastructure), per-capita GDP going nowhere (like in Oz right now!) and still the problems with the gap between the wealthy aged and aspiring youth.
But again, like the Worldwide debate of whether the lowest interest rates in human history are actually a good thing, this debate in Australia is still in non-existent or at best, early stages. But it is still a 'watch this space' as the generation funding the whole thing become a core voting group in setting policy as to whether it is feasible...
