AMP Chief Economist says immigration cuts needed to match housing supply
The deal reached between the Greens and the Albanese government to boost social and affordable housing will go some way, but it’s not enough says Oliver Peterson.
AMP Chief Economist Shane Oliver joined Oly on 6PR’s Perth Live and said the basic problem in Australia is that we’ve let population growth run well ahead of the ability of the housing industry.
Mr Oliver suggested Immigration needs to be calibrated to the ability of the housing industry to supply new homes.
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“On my estimates, we should be running at about 150 thousand less than we are – people per annum.”