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AFTER THE CRASH (so that cutting neg gearing isn't blamed) I think the government would be better off making it so that interest is only tax-deductible for useful investment, not just speculating on asset prices (that is, increasing future productivity via capital goods, expansion etc. Borrowing...

Of course I would buy a house if they were cheaper, price is why I rent and save/invest the difference (not doing too bad - most of the ASX falls were financials, oil users (airlines) and consumer discretionary, I'm in energy, materials, consumer staples) I probably wouldn't buy an IP, unless...

Because that isn't what happens at all. Most investors use high levels of debt to buy existing houses. But they're not supplying rooves over peoples heads. They're taking existing rooves, bidding up the cost of those rooves with borrowed money and then claiming tax breaks. If the investors...

Altering the tax rules now would cause people to blame the downturn on that. Heck, Australia's securitised mortgage market has collapsed, with far higher household debt levels and house prices to wage than the USA and our problems are apparently due to "US sub prime" I say leave the tax...