The housing market's in the position it's in at the moment under this regime of incentives to investors in the form of discounted capital gains and negative gearing. When we had higher levels of public housing we also had higher levels of home ownership. I don't think the existing structure increases the number of people who are housed, it just changes the identity of those who are housed from owner occupiers to renter/landlord. It's squeezing people out, not bringing them in.
