Taking a break
With the federal election having been called, I’m going to be taking a break for a while. I’ll start posting regularly again after April 28.
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© 2025 Russil Wvong
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Hi Russil, we will miss your posts. All the best for the election.
But I'll use your Substack comments to note the article on immigration today (Mar 29) in the Sun. The funny fact crossed my mind that it's the opposite of the movie line.
We raised immigration through the roof on the assumption that "If they come, we'll build it".
And we were always laggard in the building, and really couldn't keep up when immigration spiked two years ago.
The New Rule might be "build it first, then let them come". That's very tricky, with the whole industry "spoiled" by needy buyers begging at their doors for years now. It blows my mind that housing starts went down this year because builders figured it wouldn't pay - despite all the high rents and prices(!)
For me, that means 'the market doesn't actually work, for some reason', and we should go outside the market in some way.