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Comrade Joe without negative gearing house prices would be higher, there would probably be more than 30% less houses getting built. Simple supply and demand means prices will increase. I have built 3 houses that wouldnt exist if not for NG. Taken desperate depressed tennants directly...

To the contrary Joe NG is subsidy to the tennant by the LL. Saves the government from having to run a budget deficeit or cut spending in other important areas to build and maintain public housing and then adressing all the social problems public housing creates. Or increasing tax on payee...