- Nov 10, 2022
- 12,824
- 10,343
- AFL Club
- Hawthorn
Which gets to the other side of the housing affordability crisis - the spiralling cost of rentals fuelled by the need for those with large residential housing investment portfolios to get a set ROI on their investments when the value of that portfolio is rapidly increasing.
Question: Under what circumstances does it make sense for taxpayers to subsidise this property speculation bubble to the detriment of the public good?
Answer - when the majority of State and Federal MPs are owners of residential property portfolios themselves and have an active and ongoing personal interest in maintaining the ponzi scheme.
Nearly 70 per cent of federal politicians own two or more properties, and a third own at least three, making MPs some of the country’s most prolific investors and much more likely to be a landlord than the average voter. Former SA Liberal Opposition Leader David Speirs, since resigned and facing drug supply charges, had a 13 property portfolio when in State Parliament , most of which were listed for short term lease on Airbnb.
Didn’t most of them have canberra property? Which they rented to each other in some nice cosy deal. Bipartisanship at **** finest