Corporate Feudalism in full flight - a beautiful thing

[fairbear]

news.com.au/couriermail/stor … 02,00.html

Schame to make cheap rentals available within two years

A federal subsidy scheme comprising developers, community housing advocates and local government.
Developers will get $60,000 Rental Tax credit plus $20,000 direct incentive to build new dwellings for rent at 80% market value.

In Queensland, rents have risen by up to 14 per cent in the past year, with more rises expected.

BIS Shrapnel chief economist Frank Gelber predicts rents will increase 8 per cent a year for the next three years and house prices will rise 30 to 40 per cent over five years.

Yet more proof that Aus government is in the thrall of Corporate Feudalism with tax breaks and ‘gift’ incentives of $80,000 (per unit) for developers.

The question needs to be asked (but not by any journalist or invested interest mind you).

Why was this incentive, or similar, not offered to potential first home buyers?

Answer. If it was offered to renters (potential FHO), they, as renters would no longer make up part of the vested interest’s rental portfolios.

[ShortSeller]

The aim of every capitalist is to create a revenue stream that results from simply owning an asset. Ideally big business would like everyone to be a tenant paying them a rent. Just like back in the medieval feudal era. Except instead of an aristocracy, we have boards of directors.