FAST FIVE: Bursting Of Australia's Housing Bubble Could Topple The Government
And combating the country's increasingly unaffordable housing bubble is a key plank of its proposals.
And economists are worried that such an extreme concentration of wealth among older Australians.
Younger Australians priced out of the property market, for instance, are forced to live further from cities – lengthening their commutes and reducing the likelihood of second income-earners working full time, she said in an interview with Bloomberg Television Thursday.
To try and combat this, Shorten proposed that a tax break known as negative gearing which allows homeowners to treat costs associated with owning a rental home as a tax deduction (though, to be fair, that certainly sounds like it could have some unintended consequences for the property market).
He has also promised to subsidize rents and build homes.