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Is Mass Immigration Destroying Housing? Foreign Corps Pay Zero Tax & Pocock's Gambling Showdown
Season 1 Episode 64
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This week, Konrad and James expose how foreign corporations like Shell made $127 billion in Australia while paying virtually zero tax, reveal the governments hidden gambling connections, and host the first-ever Puntermon Battle between two economists who can't agree whether mass immigration or property speculation is destroying Australia's housing market. Featuring - Economists Leith van Onselen & Matt Grudnoff
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Leith's Notes
"The first chart in this article shows why demand side policies never work as they just feed higher home prices:" https://www.macrobusiness.com.au/2025/05/australians-snookered-by-mega-mortgages/
"Even if we changed NG and the CGT discount today it wouldn't do squat for the rental market as the volume of migration would continue to overwhelm supply, driving vacancy rates lower and rents higher. Sure, building public housing would help and is worthwhile. But that would cost many billions and would merely be taken up by new migrants (this is happening now in Melbourne). We simply cannot build enough homes or infrastructure to keep up with demand. We don't have the capacity. Therefore, the only solution is to go back to pre 2005 levels of migration and ensure that it is focused on skills the country actually needs. We need quality, not quantity. As long as policymakers continue to pump immigration, the rental and infrastructure crises will continue. Nothing can be done on the supply side in any reasonable timeframe to change this fact.
Matt's Notes
I claimed that over the last 10 years the population has increased by 16% but the number of dwellings has increased by 19%
Population data comes from National, state and territory population. Click on the “Population and components of change – national” towards the bottom of the webpage. In the spreadsheet that downloads we are looking for “Estimated Resident Population (ERP) ; Australia” (this is column L in the spreadsheet). 10 years comes from March 2015 to March 2025. The numbers are population in March 2015: 23,745,600. Population in March 2025: 27,536,900. The formular for calculating the percentage increase is (Mar-2025 – Mar-2015)/Mar-2015.
Dwellings data comes from Total Value of Dwellings. Click on “Table 1. Total value of dwelli
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