Yes, London house prices would likely be lower. But we'd also be poorer on average, since immigrants are a net benefit to the economy. Moreover the combination of a starkly aging population with higher costs of labour would cause a real strain on the public purse, like Japan is seeing. On balance I much prefer the current situation. Though I guess I would say that, having an immigrant parent.

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mytailorisrich 8 months ago | parent | next [-]

Net benefit to the economy does not mean net benefit to everyone individually.

That's one reason that made people at the lower end of the payscale vote for Brexit: Immigration keeps wages low.

We're also seeing it since Covid: immigration keeps the GDP (barely) growing while the GDP per capita is decreasing.

The cost is wholesale destruction of local culture, too. London is a city in England but no longer really an English city, for example.

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spacebanana7 8 months ago | parent | prev | next [-]

I have an immigrant parent too. Also agree the UK - and Europe generally - would be likely in a state of Japanification without migration.

Still, I think it's valuable to understand the economics at play. Especially in a business context.

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fakedang 8 months ago | parent | prev [-]

I mean, you're already poorer, given that immigration has depressed wages significantly. Post-Brexit, EU immigration was only replaced by non-EU immigration which has a higher tolerance for lower wages and poorer living conditions. Something that I got to see firsthand a couple of weeks back.

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n4r9 8 months ago | parent [-]

Immigration is thought to have a small negative impact on the wages of low skilled workers, but is probably financially beneficial for those further up the payscale.

> Post-Brexit, EU immigration was only replaced by non-EU immigration

Yes, in fact this was how Brexit was sold to many south Asian voters: your family will have an easier time moving to the UK.

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fakedang 8 months ago | parent [-]

> Immigration is thought to have a small negative impact on the wages of low skilled workers, but is probably financially beneficial for those further up the payscale.

And that's a good thing?

> Yes, in fact this was how Brexit was sold to many south Asian voters: your family will have an easier time moving to the UK.

Yes, and now the very fabric of most English cities has broken down in many parts.

Honestly don't see the UK (or the EU) pull itself out of this mess for a long time. Both embraced too much free immigration instead of embracing more automation and digitization.

	▲	n4r9 8 months ago \| parent [-]
		I'm not saying it's a good thing necessarily. I was replying to your statement "you're already poorer". I am probably better off for immigration. Some people are poorer, but it's a small effect and I suspect there are ways we could explore addressing it without losing the benefits of immigration. > the very fabric of most English cities has broken down How do you mean? That doesn't match my experience in London.