negative gearing

The property-owning class has come out of the pandemic richer and more determined to get even wealthier. Peter Boyle takes a look at what can be done to revert this situation.

Sydney may be in the grip of an apartment boom, but the construction of thousands of units across the city has done little to put a lid on rents, according to an analysis of the latest rental data.

Apartment living became more expensive in Sydney in the year to September 2016, after rent increases in all but three of the city's local government areas, according to the NSW Tenants' Union Rent Tracker report.

Tenants' Union advocacy and research officer Leo Patterson Ross said: "Apartment rents are growing faster than house rents at the moment."

Australian capitalism is still relatively profitable by international standards. But the structural adjustments underway to compensate for the end of the mining boom are already having a dire impact on poor and middle income people.
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