Shortens Housing Tax. Aus cant afford it., page-33

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    Property investing was encouraged in Australia to provide rental accommodation privately and thus relieve the burden of Government funds tied up in public housing. Given a choice most renters would like to rent in middle ring established houses on stand alone sites. Labor's plan to only apply negative gearing to new will lead to either more cheap apartment blocks or house and land packages in the outer fringes. Both of which no investor with a brain would touch as they are terrible investments. Hence eventually rental properties in middle ring suburbs become scarce and rents rise. They have tried this before you know. Keating was smart enough to realise the mistake and changed back, Shorten and Bowen are not that smart.
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