Developers or renters? The real winners out of affordable housing schemes

Australian governments are subsidizing developers to build affordable housing, but a review of one major Sydney project suggests developers may profit far more than tenants: a bonus scheme worth an estimated $31.9 million in added value comes with only $2 million in costs to provide 23 discounted units for 15 years. Affordable housing discounts also expire after 10–25 years, after which…