this post was submitted on 16 Jan 2024
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Rents highlight Australia's economic Achilles heel, but it's not what you might think (www.abc.net.au)
submitted 8 months ago by [email protected] to c/[email protected]
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[–] [email protected] 5 points 8 months ago* (last edited 8 months ago)

It's great for the banks that lend the money, the real estate agents and state governments who take their cut from the transactions [...]

This part towards the end succinctly sums it up. With those interests in mind, it's little wonder why we're in this mess, and why it will be so difficult to get out of it.