And the public get to subsidise this too.....

So if you have been following this story you will know:
2008 / 9 s The land is cleared with bulldozers and logged the area within a month of receiving title. the owner tells us all it is a farm.  We are in rural residential area with vegetation covernant, so the bulldozers slip through the net and the SCC condones the clearing.

2009 / 10: A 3 bedroom house is built and a dam.  No electricity is connected and nobody moves in.

2011: Subdivision is announced and a public road is put in to service 7 new blocks.  Owner tells us there will be couple of new houses built for rent.

By my reckoning, building homes to rent does not add up, unless their is a Unit Trust linked with a superannuation, in which case you can avoid paying tax on millions that you make selling from selling the remaining blocks.
http://www.ato.gov.au/businesses/content.aspx?doc=/content/00179876.htm&page=32