There are always debates on this forum about the direction of the market , what drives it and how sustainable it is .
Last weekend at a friends place we were having a similar debate and one friend , was quite negative about the sydney property market saying it was being driven by immigration and that was a poor basis to drive a market and the economy .
I've always had faith that the market will in the long term will always go up , but since that comment , I started thinking about what justified that faith .
Well , this is my conclusion .
People might debate this point , but I think australia is one of the nicest places on this planet to live . We may not have the history or sense of culture that some countries profess to have , but on a practical day to day basis , I think it's pretty good . So while people may aspire to certain things in their live , I think Australia is an aspirational place to live . The continuing rate of immigration is confirmation of this .
So immigrants ... It's a recurring theme to complain about immigrants , always picking on the more obvious or latest wave from a different part of the world .
This has never changed
I've just comeback from visiting my wife's uncle who is a fiesty 90 year old who is currently recovering in ICU at the local hospital. On the way home , my wife recounted the family story of how he became involved with his second wife She was working for him as a house keeper and one day he dropped her to her home. As she got out she was abused by some local youths . He got out and threaten to beat th s.... out of them if they caused her any more problems ... Her crime .. She was Italian .
The reality is that people who emigrate to Australia are seeking a better life for themselves and their children . My career , medicine always has a higher level of immigrants and their children than the normal community.
Immigrants are motivated and often harder working than your average Aussie . Certainly many of the current immigrants have overcome serious personal danger to get here .
My dad was lucky . All he had to pay was 10 pounds ....I'm a doctor and both my sisters have ended up as CEO's of major organisations , an example of what immigrants achieve . Both my parents have OAM's in recognition of what they have contributed to this country.
I don't know how Australia will develop over the next decades and centuries . I'm not sure what will be the economic drivers / industries going into the future but we've always had the reputation as the clever country and personally , given the factor of being an aspirational place to live and attracting motivated emigrants , I see no reason why that will change. If we can't workout how to move forwards economically , I don't fancy the chances for the rest of the world
Is that a sensible basis for an economy ? Don't know , but it is what it is .
Cliff
Last weekend at a friends place we were having a similar debate and one friend , was quite negative about the sydney property market saying it was being driven by immigration and that was a poor basis to drive a market and the economy .
I've always had faith that the market will in the long term will always go up , but since that comment , I started thinking about what justified that faith .
Well , this is my conclusion .
People might debate this point , but I think australia is one of the nicest places on this planet to live . We may not have the history or sense of culture that some countries profess to have , but on a practical day to day basis , I think it's pretty good . So while people may aspire to certain things in their live , I think Australia is an aspirational place to live . The continuing rate of immigration is confirmation of this .
So immigrants ... It's a recurring theme to complain about immigrants , always picking on the more obvious or latest wave from a different part of the world .
This has never changed
I've just comeback from visiting my wife's uncle who is a fiesty 90 year old who is currently recovering in ICU at the local hospital. On the way home , my wife recounted the family story of how he became involved with his second wife She was working for him as a house keeper and one day he dropped her to her home. As she got out she was abused by some local youths . He got out and threaten to beat th s.... out of them if they caused her any more problems ... Her crime .. She was Italian .
The reality is that people who emigrate to Australia are seeking a better life for themselves and their children . My career , medicine always has a higher level of immigrants and their children than the normal community.
Immigrants are motivated and often harder working than your average Aussie . Certainly many of the current immigrants have overcome serious personal danger to get here .
My dad was lucky . All he had to pay was 10 pounds ....I'm a doctor and both my sisters have ended up as CEO's of major organisations , an example of what immigrants achieve . Both my parents have OAM's in recognition of what they have contributed to this country.
I don't know how Australia will develop over the next decades and centuries . I'm not sure what will be the economic drivers / industries going into the future but we've always had the reputation as the clever country and personally , given the factor of being an aspirational place to live and attracting motivated emigrants , I see no reason why that will change. If we can't workout how to move forwards economically , I don't fancy the chances for the rest of the world
Is that a sensible basis for an economy ? Don't know , but it is what it is .
Cliff