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Rezoning = private profit?! (Couple loses property fight after highway swallows $5.5 million dream) (www.smh.com.au)

submitted 4 months ago by [email protected] to c/[email protected]

6 comments fedilink hide all child comments

Tip of the iceberg when it comes to examining the corruption of land ownership in Australia. It's hardly talked about. The linked article doesn't even talk about it.

The public as a whole (and traditional owners) should be the only financial beneficiaries of rezoning.

I suspect private maximisation of rezoning profits is the reason behind why urban developments here are almost universally that awful single-story no-greenspace roof-to-roof packed suburban hellscape.

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[–] silasmariner 14 points 4 months ago (1 children)

I don't get it, am I meant to have sympathy for this couple? They speculated on the value of some land going up, it did, they thought they deserved more. Boo hoo.

[–] [email protected] 7 points 4 months ago

Yeah, I can never quite tell with articles sometimes..

Among many elements of the story that absolutely fail to raise sympathy:

[...] They planned to subdivide their block into 26 lots once the land was rezoned as residential, live on one block and drip-feed two or three others on to the market each year.

...just what we need -- a drip-feed of low-density housing.