Negative gearing needs to completely go!
The changes to negative gearing are an absolute joke. It's only new investors who can't negatively gear multiple properties. All existing investors are still allowed to have their properties negatively geared. This only hurts us younger generations more. They let the older generations accumulate wealth off the backs of those renting and then they make it harder for younger generations to accumulate wealth. They need to scrap negative gearing completely. The argument that it keeps rents low is absolute bs! If negative gearing was scrapped you'd have a shitload of properties hit the market, particularly with rising interest rates.
Housing would be more affordable to buy. There would be less demand for us to rent. Therefore we would have more control on what we pay week to week not leaving it up to the landlords.
I am so mad at this country we keep doing things to further hurt younger generations. Older people are not entitled to negative gearing, they kick up such a stink... You are literally getting free money. You are not entitled to it. You want to create a property investment portfolio... Great you do that, but you will have to actually make sure it generates profits. You shouldn't be able to make a "loss" but actually still accumulate wealth. This has only made it worse for renters!!