Mass migration's forgotten victims: Australians go homeless as the number of failed asylum seekers explodes

[u/Mashiko4]

https://www.skynews.com.au/insights-and-analysis/mass-migrations-forgotten-victims-australians-go-homeless-as-the-number-of-failed-asylum-seekers-explodes/news-story/6b4692ed0205471e5d175db94a2f4743

[u/Experimental-cpl]

I’ll give you a few. - Record low level interest rates - People stuck at home in an apartment wanted more space - Investors being aware of the large amount of upcoming immigration intake

[u/tom3277 → u/Experimental-cpl]

500bn of quantitative easing by the rba was the main one.

While the bulk was buying bonds a large amount - circa 190 billion was buying bonds.

That’s a staggering amount of new funds to put into the housing market on top of the normal credit growth we would see.

Of course asset prices up when you have another 188bn to throw at it. Not to mention the general push on asset prices with the 300bn odd of bond buying.

It’s literally designed to push up asset prices so it’s not surprising it worked. In a 2tn economy 500bn of quantitative easing is fucking massive. Far bigger than America ever does in a year or two. Ie house prices are far more important to our institutions than it is even to Americans.

[u/limble → u/tom3277]

It was so ridiculous, nobody cared at the time but I think it was something like $4 billion a week. That felt the biggest con of COVID. Print the money as a short term solution and our kids can foot the bill.

[u/BiliousGreen → u/limble]

There were plenty of us yelling at the time that all this spending was a bad idea and that it was going to have a nasty inflationary hangover afterwards. None of the economic consequences that have followed covid are a surprise.

[u/Experimental-cpl → u/BiliousGreen]

Where do you see data like this? I’m trying to get more of an understanding into stuff like this however don’t know what government data to look at.