Absolutely true - we should be moving to pro-slow immigration and recognizing like an intelligent society that a vast labour oversupply is far more damaging than labour scarcity (because of the social benefits uptake and the drag on the economy). Business wants the labour oversupply as it suppresses wages and social benefits ensure that each new body is still a consumer - it is a massive corporate welfare scheme nowhere more visible than refugees taking in thousands of dollars a month. If the social benefits were not available, people would stop coming here en masse.

But the politicians only have ears for business, not the cries of their citizens who are footing the bill, so expect prices to go up another million like happened in Vancouver and the tax base to be further hollowed out.

The hundreds of thousands of foreign students being recruited to proxy buy housing (displacing domestic applicants and taking youth jobs) are part of the problem as well.