Prosper Australia

By Karl Fitzgerald

Crikey

If we are all borne onto this planet as equals, why are some subsidised to own the planet at the expense of others? Don’t we all deserve a roof over our heads? The right to participate in the Great Australian Dream? This is what Gen X, Y (& soon Z) are asking.

Why does Howard ignore these founding principles, preferring speculators profits over basic human rights?

Negative gearing gives over $2billion p.a to those already wealthy enough to own a piece of the planet.

Research by The Australian (26/02/07 - now only listed on Real Estate.com.au) found an existing 10 year supply of land in Sydney, Brisbane & Melbourne. Zoning approval for development on 155,000 lots is presently available. Why is nothing happening? (more…)

$4billion Rail Tunnel back on target (17/03/06).

Premier Bracks is looking to spend billions to make the wealthy suburbs more attractive (delivering millions in land value increases to neighbouring wealthy political benefactors no doubt - we wonder which donor will receive the contracts?).

Why not use the Japanese model where the developer is also the constructor for the underground tunnel? The entire project is funded from the sale of the new shops & residential property. Such profits exist in land and property that the developer/ constructor could still make double what he could in the sharemarket with little risk.

Read Fred Harrison’s “Wheels of Fortune” to get the dirt on how many S-E Asian countries fund their transport infrastructure.

Sharon council mulls land value tax after presentation by economics official (15/03/07).

Joshua Vincent from the Center for Economic Studies, Philadelphia, provides the data on why switching away from Capital Improved Valuation to Site Valuation is of economic benefit to your community.

Price of housing outstrips rent (12/03/07).

Remember that whilst rents haven’t kept pace with house prices , neither have wages. Landlords have many other advantages such as negative gearing (at around $2.4billion dollars p.a in subsidy to the property lobby, mainly coming from lower & middle class citizens who could never dream to afford a ‘Tax Minimising lawyer/ accountant’).

Landlords also have the ability to increase their borrowing capacity on an appreciating property. A 154% increase over 15 years and still they aren’t happy?

Don’t forget to see this MUST SEE videocast from the ABC’s MediaWatch on “Who is really raising the rent?”.