Some people naively believe that housing prices increases ( owners) are very good for them but let's look at it:
1. We know that Immigration (e.g. last year 260 000 overseas migration ) has been main driver of this increase / on demand side.
2. Ok, you may say I have extra e.g. 600 000 in equity as a result of last 10 years increases.
now let's look at you cost:
more obvious first
a. Your kids can not find full time job after finishing College / Uni .. you as a family loosing now 20-30k per child per year due to underemployment ... ( it is better bring overseas worker with 5-7 years experience and then pay to your kid) and may be they will never get a proper job where they can progress. What is the cost ? HUGE ! Over just 10 years it will cost you $300 000 per child due to under employment. Remember 20 years ago how easy it was to get a role after Tafe / Uni.
This is not considering trauma impact your children are suffering.
b. You most likely will need to help kids with home deposit e.g. 100k per child at least.. so you may be down 200k
c. Have you felt in the last 5-8 years that your employer either do not increase your wages .. or does it by e.g. 1-2% or even worse due making your role redundant ? say your miss our on 5% increase in the last 5 years... then you are approx. ( assume base of 100k) at least $25k down
Your employer does not need to give you pay increase as there is many others ( newly arrived) just waiting to pick up your job
d. What about road congestion / extra stress from applying to hundreds to jobs / overcrowded schools / Costly child care - how much does it cost you?
Those who say current level immigration is good is only ones are profiting from it : developers / pocket politicians
Are you the winner from this situation ?
