One of the most perverse aspects of capital gains concessions and negative gearing is it makes residential property a very attractive safe haven during instability and recessions, such as now ... delivering *more* expensive housing during downturns, along with the ever expanding bubble.
It's just so fucked up. Labor are cowards for failing to address it (although they did have a go in 2019) and the Coalition are just bastards 'cause it's exactly what they want.