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Spot on mate. Good to know someone's eyes are wide open.

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ShortEverything

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31/03/23

23:53

Post #: 67078118
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Originally posted by Lapdog: ↑

@ShortEverything; property developers have gamed the market and worse with impunity for decades!

They're NOT investors, they're speculators whose windfall gains depend on local council decisions to reduce rates on vacant land and to eventually rezone that land. Even a cursory glance at the composition of some local councils is revealing!

Near to where I live in NE Vic a rural city council slugs normal ratepayers and refuses to cater for older residents in order to subsidise property speculators and major retail chains - providing a $50 million asset for their use via a loan whose costs are paid by ratepayers!

No-one should blink an eye when speculative operators go belly up - that's market capitalism at its best!

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Spot on mate. Good to know someone's eyes are wide open.
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