And as the article says - this data is only from individual tax returns. It doesn’t cover companies.
Cunts
Isn’t that just a generic term for Australians? Like not even an insult? I think there’s gotta be something much worse to call them. “Landlords” might do, it’s basically synonymous with scum of the earth.
Nope. Cunt as a singular can be a term of affection. Cunt as a plural is only a positive when used with some adjectives like “crazy” or “mad”. Used without an adjective like that, it’s a harsh put down.
The differences are subtle but unmistakable.
They’re using “Mr Kumar” as an example here, but this story goes back a long way. Huge parts of the wealthy northern suburbs, and prime real estate near the most popular beaches in Sydney are held by a handful of people. They bought this property a long time ago, but the “newer” property investors are basically working off that template. You can actually walk around those suburbs and find a bunch of empty properties. They don’t care about the rent, they prefer to show as little income as possible. They just want the capital gains when they sell. Often these people are retired and can get significant tax concessions.
The “newer” investors are doing this but with properties which are much cheaper. They do it like a job or a business. It’s not healthy for the country either, but it’s actually less of a rort than the institutional wealth in this country.
My partner and I find ourselves in a very similar situation to the couple listed at the end of the article. Ever saving every cent only to have the goal posts pushed further and further back. And then our landlord decides to jack the rent up for our current place every 12 months by absurd amounts because “its what the market says”. Bull fucking shit you greedy fucks.
But what are our other options? Move out into whoop whoop away from all of our friends, family and work? Aim lower and get a place that we don’t fit in? What do we do?
Or even if we get approved for a mortgage, it will be with us until we are 70 based on interest rates and stagnant wages. I feel hopeless and at the whims of those that only want my hard earned money.
our landlord decides to jack the rent up for our current place every 12 months by absurd amounts because “its what the market says”. Bull fucking shit you greedy fucks.
This is how I found out the “rental reviews” the department of justice does in Victoria are an absolute joke. If everyone colludes to raise rents by 20-30% 2 years in a row (as they did), then you’re shit out of luck.
They even use advertised listings in their calculations, which is an even bigger joke.
Canberra are the only ones (that I know of) who have something vaguely okay. 2% above inflation per year. No more.
Absolute joke of a “strong” housing market we find ourselves…
Maybe it wasn’t about the houses, maybe it was about the class divide that we made along the way.
Save some for the rest of us!
This is a nation of convicts who aspires to become wardens.
I don’t have an issue with people owning multiple properties, but doing so should be subservient to the provision of a core component of subsistence.
A broad proposal I’ve been mulling is the realisation of profit anywhere in the real estate industry (construction, (re)development, ownership, management, etc.) should only be tolerated contingent to the size of the social housing wait list.
As a broad example, if the wait list is over a year, tax any profit above 5% at 50%. The figures are arbitrary, the point is to make it the responsibility of the group to fix the problem they’ve caused.
