"If it's immoral, who would provide all the rental accomodation...

"If it's immoral, who would provide all the rental accomodation for those of us who aren't that interested in property?"

Agree - Too many think that should be the gov't, but can you imagine what a monumental failure that would be.

"While we may support changes to tax structure for the investment, changes in regulation, etc etc, surely the investment is not immoral? "

I agree tax changes should be implemented. Negative gearing is not the problem - it is the Australian Tax system that is the problem as if you do earn good coin whether through investments or your day job the more you earn the more you are punished which makes those that are savvy look at ways of deferring some of their incomes i.e. make a loss on an investment today and pay less tax for a gain in the future.