That's great. And all the 90% borrowers will then find themselves in a negative equity situation. Will see what that does to this county. Time to buy shares in bowra and odea!
There is a misconception here that investors are here to take as much as they can from negative gearing and continue doing so.
My personal experience with property investment has resulted in 5 years of negative gearing before the properties became positively geared. I now pay tax on those profits.
This government will happily tell you how many millions we rape from negative gearing, through they won't say how much tax has been generated from the positively geared ones.
JS
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