There are a few things to look at. Have the governments done anything for housing over the years? Yes, the FHOG (Its really the first of stimulus packages).
Negative gearing has been in since 1985.
I wonder if things will change or not. Probably not.
At the end of the day we are all working for a central bank of some sort.
If your a home owner who still paying off a mortgage or an investor with investment properties which are still in a mortgage of whom you have renters, its all going to a central bank or a bank.
I'm sure that in other places in the world where negative gearing isn't offered there are plenty of accommodation that is on a market for rent in that geographical location.
The only places I'm aware of are the Australia, New Zealand & Canada.