Our Ponzi Scheme Economy

OMG: what are we getting ourselves into? We have an economy and politicians addicted to Real Estate and Immigration.
I am not sure what the real stats are in relation to Dwellings and construction in regards to the economy but I look around at my close group of contacts and family and if wasn't for building or affiliated industry many would not have jobs.
It appears the perfect Ponzi Scheme to me keep filling the place up and keep building.

Surely quality of life has to be eventually affected. There is no real Industry left, are we to become Country chock a block, building more and more homes, becoming a land of baristas and people servicing the building Industry, seems a little fragile and short sighted IMO!