The Land Values Research Group’s Director, Dr Gavin Putland, has just compiled these telling new comparative land value charts based upon Australian Bureau of Statistics’ Catalogue 5204.0, Table 61.
Our regulatory bodies, including the Reserve Bank of Australia, quite obviously did nothing to keep the greatest real estate bubble in Australia’s history from developing.
One may very well ask what purpose all our regulatory bodies and the Productivity Commission really serve.
Despite a long history of recessions and depressions having followed the bursting of land price bubbles, Australian Treasury officials and politicians also continue to ignore that these bubbles come at the expense of productivity and social cohesion.
Why? Is the parasitic rentier class that bullet-proof?