113
New data reveals thousands of Australians who own 10 rentals or more
(www.abc.net.au)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 16 Oct 2024
113 points (98.3% liked)
Australia
3835 readers
99 users here now
A place to discuss Australia and important Australian issues.
Before you post:
If you're posting anything related to:
- The Environment, post it to Aussie Environment
- Politics, post it to Australian Politics
- World News/Events, post it to World News
- A question to Australians (from outside) post it to Ask an Australian
If you're posting Australian News (not opinion or discussion pieces) post it to Australian News
Rules
This community is run under the rules of aussie.zone. In addition to those rules:
- When posting news articles use the source headline and place your commentary in a separate comment
Banner Photo
Congratulations to @Tau@aussie.zone who had the most upvoted submission to our banner photo competition
Recommended and Related Communities
Be sure to check out and subscribe to our related communities on aussie.zone:
- Australian News
- World News (from an Australian Perspective)
- Australian Politics
- Aussie Environment
- Ask an Australian
- AusFinance
- Pictures
- AusLegal
- Aussie Frugal Living
- Cars (Australia)
- Coffee
- Chat
- Aussie Zone Meta
- bapcsalesaustralia
- Food Australia
- Aussie Memes
Plus other communities for sport and major cities.
https://aussie.zone/communities
Moderation
Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.
Additionally, we have our instance admins: @lodion@aussie.zone and @Nath@aussie.zone
founded 2 years ago
MODERATORS
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.