5. (2013 November) Likeable Link: How the Poor Subsidize the Rich

According to a new report from Australia, homeowners there receive “$36 billion [AUD] a year in subsidies, landlords about $7 billion and renters less than $3 billion.”

The stratification between wealthy and poor property owners is steep as well.  High income owners receive $8,000 per year on average, but low-income owners don’t receive much more than $2,000.

“The report found the skewing of support to ownership, rather than renting, forced people to live further away from the centre of cities than they would like and made it hard for them to move because they face stamp duties.”

Read more: http://bit.ly/1gZ0yQG

1 thought on “5. (2013 November) Likeable Link: How the Poor Subsidize the Rich

  1. The title of this article is wrong since there is no explanation of the “how” in the article–only the basic facts of what.

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