The Rich get Richer the Poor get the Picture


https://au.pfinance.yahoo.com/money-manager/real-estate/article/-/24663371/politicians-and-their-300-million-property-portfolio

The propertied federal politicians: Pollies and their $300 million property portfolio

August 8, 2014, 11:02 am Lindsay David, Paul Egan & Philip Soos, Property Observer Yahoo7 Finance

Instead of helping to resolve the crisis, Australia’s political class is apparently determined to maintain world-beating prices with poorly but purposefully designed policies to maximise prices.
It is evident that politicians are heavily invested in the property game, with the 226 members in both houses of parliament with an ownership stake in a total of 563 properties – an average of 2.5 properties per member, conservatively estimated at around $300 million (563 multiplied by the median dwelling price of $530,000 as of July 2014).

pollies and properties

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5 Responses to The Rich get Richer the Poor get the Picture

  1. PeterBDunn says:

    Australia isn’t the only Country with Clepto Corporate Scumbags ripping off the public Ignoring their Duty of care and Due diligence

    The Truth About Graham McCready, Vinny Eastwood Plus Ben Vidgen 1Aug2014

    John Banks Should Have Been Jailed! Penny Bright 1Aug2014

      • pamea says:

        We lost our Post Office as buyer found renting an extra room a far better investment to labor intensive postal service. Now I see advertised on social page at no cost for ad. 2 rooms, fully furnished , newly renovated ( 2 years back) $110 a week each with linen provided. 4 bath, 4 toilet. Total bedrooms per house 6. No need to register. As boarding house ! Unlike the elite elected member this investor, landlord will never qualify for a pension, as pensions for ordinary folk are fazed out n replaced with super. Lower income workers find an investment house or property a good top-up. Rather risky with mining towns boom or bust yo yo.

        Too risky for an aged pensioner to rent a room loosing their privacy & having to share bathroom/toilet & kitchen facilities with a stranger who may not pay on time & leave taking the family silver.

      • pamea says:

        Added this topic to my timeline on facebook. (Y)

  2. pamea says:

    There is poverty and there is responsibility to provide for our own. The state provides housing for low income earners as well as rent assistance from the federal government for those who cannot buy. Mining towns are now devalued .. Some will have loans greater than the saleable value.
    Some folk rely on handouts to feed their selves and their children. Read more at;
    http://4spotmore.wordpress.com

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