In recent years, Australia has seen a significant increase in mass migration, with many people moving to the country for various reasons such as work opportunities, a better quality of life, or to escape political turmoil in their home countries. While this influx of newcomers has brought diversity and economic growth to Australia, it has also had some negative repercussions for many Australians who are now experiencing what can be described as a ‘personal recession’.
The term ‘personal recession’ refers to a situation where individuals or families are facing financial difficulties and struggling to make ends meet despite a strong economy. This can be attributed to a number of factors, including increased competition for jobs, rising housing costs, and the pressure on public services caused by the influx of migrants.
One of the key issues facing many Australians is the competition for jobs. With more people entering the workforce, there is greater competition for available positions, particularly in industries that have been traditionally dominated by Australian workers. This has led to increased unemployment rates and stagnant wage growth for many Australians, making it increasingly difficult for them to support themselves and their families.
Another factor contributing to the personal recession is the rising cost of housing. As more people move to Australia, demand for housing has increased, driving up property prices and making it harder for Australians to afford to buy or rent a home. This has resulted in many individuals and families facing housing insecurity and financial strain, as they struggle to find affordable accommodation.
Additionally, the strain on public services such as healthcare and education caused by the increase in population has put further pressure on Australians who are already feeling the effects of the personal recession. Longer waiting times for medical treatment and overcrowded schools are just some of the issues that Australians are having to contend with as a result of mass migration.
To address the personal recession that many Australians are facing, there is a need for policies that support and protect the interests of local workers and families. This could include measures to ensure that employers prioritize hiring Australian workers, as well as initiatives to increase the supply of affordable housing and improve access to public services for all residents.
While mass migration has undoubtedly brought benefits to Australia in terms of cultural diversity and economic growth, it is important to acknowledge and address the challenges that many Australians are facing as a result. By implementing policies that prioritize the well-being of local communities, the government can help to alleviate the personal recession that is currently impacting many individuals and families in the country.
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Australia's immigration policies assist the developers who fund our major political parties and local councils. The policies have not and will not change. 'Skilled immigrants' bring money. Australia should manufacture building materials. Then what goes around would come around'.
Got to keep the rents up for all those Labour politicians who own all those investment rental properties,
Meanwhile our GDP per person goes down
YOUNG AUSTRALIANS DONT WANT TO WORK, JUST ROOT, SMOKE BOGS, DRINK BEERS, JOY RIDE, STEAL, CAUSING NUISANCE
Same old spin from both sides of Grubbermint. Fact is, the west is BANKRUPT, no matter how they spin the truth. All the western nations are devolving to tent economies. Period.
High interest rate is DESIGNED to slow the economy down so that inflation comes down.
This was because the government, like the UK or USA , had pumped in too much stimulus during the Covid times.
They need to slowly drained back the extra stimulus monies.
The challenge is to drain the excess monies without causing a recession ie achieve a soft landing.
Historically, it is difficult to do so.
Once prices go up, it is tough to lower it.
Those super expensive rental and property prices have a PRICE TO PAY….ie INFLATION.
The people with properties and lock-in interest rates are laughing all the way to the bank.
The people renting are hurting…the people taking loans are hurting.
The economy is in divergence.
The alternative to low stimulus monies is sluggish economy like China or Malaysia or Thailand.
Rental and property prices are like pre Covid level.
Interest rate is also low.
<I have about 5% of my portfolio in uranium stock, any advice on any other stock that I can grow my $300k capital to a million dollars?.