Completely agree, speculation in an asset class which at the end of the day is a necessity for human life needs to be controlled. The problem we find ourselves in but is a lot of IP yields wont stack up if more regulation was introduced... That negatively geared landlord who is currently subsidising his tenants lifestyle by allowing him to live in a suburb he couldnt afford to buy in is going to get burnt pretty bad if speculation is reigned in or the 50% CGT concession is abolished.
It would be hard for a government without commiting electoral suicide to implement reforms to make property ownership more attainable to the masses, I think the market needs to drive the price down to sustainable metrics, allow a sunset clause for current investors portfolios to not be effected by the reform, then reform property investing, this would cause property to stagnate for a while then investors would return with a greater yield focus not a capital gain approach to property.
