Are migrant workers ruining the economy?

Are migrant workers ruining the economy?
Signup bonuses:
-Tiger Brokers, get NZ$ 80 cash bonus & zero fees: tigr.link/1ZIyRn
-Binance 10% off trading fee: accounts.binance.com/en/regis...
-Easycrypto: easycrypto.com/?ref=90650605
-Sharesies, free credit with new signup: sharesies.nz/r/TBTSP8
-Stake: bit.ly/hhstake
- Hatch, free $10 with $100 deposit: bit.ly/hatchlink
-Sharesight, first 4 months for free: bit.ly/hhsharesight
Social Media:
-Facebook: / henkhustle
-Instagram: / henkhustle
DISCLAIMER
All personnel that appeared in this video are not financial advisors. This video is not financial advice. All strategies, recommendations and tips are purely based on personal opinions and should be for entertainment purposes only. Please do not invest purely based on information provided in this video. Seek out a qualified financial advisor and carry out your own due diligence before doing any form of investing.
Some links for products may be affiliate links.

[@davout71]

Western countries are addicted to immigration. It becomes a catch 22. Rents increase and permanents put house prices up. We have a massive supply issue and the recent surges of immigration won't be making it easier. Furthermore our services suffer and there is then the claim to bring more in to fill the gap in resources. So it goes on. I wish immigration was managed strictly to balance with the infrastructure.

[@henkhustle]

It takes a long time for structures to be set up in place so it is very difficult for services to keep up in pace

[@rupertthecatandfamily]

The problem is NZs infrastructure and public services don't increase fast enough for the massive increase in population. Government also doesn't increase their spending proportional to the increase, so spending per person essentially drops. But government like it because it makes their numbers look better IMO

[@home-space]

II they need to do is tax undeveloped land to stop people landbanking it. But there are too many conflicts or vested interest in property for decision makers to do this. Property seems to always be the exception in NZ when it comes to fairly taxing it.

[@henkhustle]

Is this a problem that can ever be fixed?

[@Lukescomment]

Surely a good business would return more than residential property if run properly but they also say 80% of businesses started wont be around in 5 years

[@NotBROLL]

Riiight. Is land really that lucrative? Investing in say S&P500, you historically get ~10% p.a., does land increase in value faster then that? I guess when businesses buy land, they'll also lease it out, so getting extra income that way too. Either way, pretty sad to see that's the way businesses roll here. No wonder not many get up in size, and get better quality/products.

[@henkhustle]

The main thing that I find is that many businesses here also suffer from population/customer base issue. There are only so many customers to go around which makes growth tricky so many don't really focus on that

[@henkhustle]

With properties you get the benefit of leverage as well since you borrow a lot from the bank. The percentage return can be smaller but you end up getting more out of it

[@curtismilner8952]

Hey henk i thought these migrates that were on the work visa the employer has to pay above minimum wage for example 28 dollas an hour minimum is that true??

[@henkhustle]

In theory yes but I doubt all the workers are completely aware of these laws

[@curtismilner8952]

@@henkhustle wow thats crazy maybe i am naive but i thought this would get flagged by IRD or something. you hear stories about employers puting these migrints in there rental properties 2 charging them 200 rent x 15 plus workers absolutly crazy to think this is who we are competing against sad

[@Lukescomment]

I work for Silverfern farms meatworks and we pay the Indos and phillipinos 28.10 an hour with time and a half and double time sometimes

[@jefferydrake8641]

*Promo SM* 😣

[@tenpattt777]

Lazy people always complaining what do 😂😂😂😂🎉

[@giffordjourneyto1million]

Very good topic, IMO houses will double in a decade due to demand and net migration up YoY if it doesn't get slowed down. The people coming in are affording houses as a family unit so +4 living under 1 roof with most on minimum wage jobs however afford it as the loan is across 4 incomes. Can I recommend you turn you mic off while the vid is playing due to back ground noise (breathing) then ok when reacting. Keep up the good work

[@henkhustle]

Yeah I was bit sick that day haha