Subj : Re: 3.5 weeks to being la
To   : Spectre
From : boraxman
Date : Mon Jul 18 2022 21:55:07

 Sp> Its not quite that cut and dried though.  You have a large proportion of
 Sp> the population that rely on rental properties for housing with little
 Sp> prospect of buying their own.  If you clamp down on landlords a large
 Sp> proportion of these would become homeless.  The speculators are a
 Sp> different subject, but you'll find its them that pushes the pricing. 
 Sp> Unless you're going to liberate all those properties and turn them into
 Sp> public housing, nothing much will change, and of course the cost of
 Sp> doing that would be so exorbitant it'll never happen.
 Sp> 
 Sp> Spec

Not quite that cut and dried, but in todays market, I would think that landlords are a significant issue.  It is an all to common occurrence for someone attending an auction, wanting to buy a house to live in, to be outbid by an investor who then rents it out (and gets negative gearing to boot).

Landlords do provide a service, but when they out-compete someone wanting to buy, forcing that person to rent, then they become a problem.  They create the very problem they claim they deserve tax concessions to fix.

It is one thing to build a block of apartments, and rent them out, but many landlords are just buying up existing stock.  They are creating a shortage so they can make lazy passive income and fund their retirement through the debt of others.  If the housing market weren't so hot, many people, MANY people renting would have bought.

In Australia, we elevate parasites to a protected class, and we act as if they are ENTITLED to be profit obtaining landlords.  It really is quite disgusting that we, as a society will impoverish future generations to create what is a sheltered workshop for property investors.

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