Housing NSW is the largest landlord in NSW. This government department is the States provider of social housing. But its current strategies and policies are of more benefit to offshore and other residential property speculators.Housing NSW, via its NGO partners,rents properties from commercial real estate agents at top-of-market prices.The NGOs then allocate these properties to waiting social housing clients via the SAAP program. Great if you are a greed driven property speculator, even better if you are a bank. But for young people aspiring to make their 1st home purchase in Sydney, and for taxpayers, this is an onerous government subsidisation of speculators – with built in, industry driven rent increases – ensuring that a first home purchase remains ever more elusive.

  This policy is just another cynical, short term plan with no long term prospect of success. Another step in the bipartisan political approach of using taxpayers money to keep the rich and greedy well fed. There is no equity for marginalised people. No long term benefit for taxpayers. Just ever spiralling rental incomes for the lucky,greedy property speculators .