Can you put a price on the cost of keeping property in a bubble? Probably not but we can try....
$15,000,000,000 - Yes, 15 Billion Dollars
Keep in mind this figure ONLY takes into account the NSW & VIC First Home Owners Grants and 1 year of negative gearing back in 2004. It's quite staggering!
"Negative gearing payments made by the Australian Commonwealth government to landlords suffering a loss went from $600 million in the 2001-02 tax year to some $3.9 billion in 2004-05. This was also a 50% increase on the previous year."