Little rich coming from a bloke whose party stymied any possibility of wholesale reform of the property sector including action on negative gearing but anyway.

In lieu of those reforms this is a reasonable measure. It impacts those most in need of assistance and will make a substantial difference to the cohort who most need it.

And it is a large chunk of that cohort. Given the owner occupier purchasers of homes of those in the under $100,000 wage group sits at just 16% of the overall volume this likely translates to 19,000 people. So 10,000 PA is more than half of that number.
http://www.westpac.com.au/content/dam/public/wbc/documents/pdf/aw/ic/WBC_1H22_IDP_and_Presentation.pdf Page 76.

Good on the Labor party for leaning down with a helping hand.

And yet, despite the subsequent political back-pedalling -

https://www.news.com.au/finance/economy/australian-economy/unearthed-clip-shows-scott-morrison-backing-shared-equity-scheme-during-gfc/news-story/4aaae251f8c38f5afa6d6d6f840843f5

The ALP was spooked into dropping their proposed negative gearing changes from the last election but it was the voters who ultimately decided.

The housing market presides over the greatest transfer of wealth from the bottom to the top in Australian history.
Choices are stark for countless people; live under a roof and starve, or eat and live in the open.

This is a current event to deal with during an election period one would think. But not a whisper in addressing this reality.
For too many people there is nowhere to live: The lucky ones have a vehicle in which to dodge the elements to some degree.

Vote for me they cry…not likely say I.

I wouldn’t p* on a politician if they were on fire!

Dan.

Where has the government been over these past years?
Why the sudden move to do something just prior to
an election? More promises and then what?

Let's wait and see what happens next shall we?
At least Labor is trying to take the first step in
the right direction. No one is perfect - but it does
seem like a genuine attempt to help people. Whereas
where has the government been?

What will the Liberal Party look like if it loses the moderate
Josh Frydenberg?

Dan, vote with a bullet you say. Apart from showing your Russian inspired murderous morals? Who is in your crosshairs and why? And why do you think that would do any more that force a new byelection in that seat or those seats? Would you be the nutjob pulling the trigger or do you simply want others to do it for you?
Alan B.

Labor tried a similar scheme in Queensland about 30 years ago. They got a lot of people into trouble. At the time wages were going up quickly, so they started this scheme allowing for an increase in wages to help repayments. It didn't work.

On the other hand it might be an idea to stop denigrating those who supply rental housing. We hear every day sob stories of people who can't find accommodation for love nor money. Yes it must be tough for them, particularly as thousands of homes are temporarily out of use due to flood damage, & won't be back for a while.

Do remember Keating cut negative gearing for rental housing, & them had to bring it back quickly as the availability of rental housing dried up. I don't know if any of you have done the math, but I personally would never invest in rental housing, even with negative gearing. The math just doesn't work, except in times of very rapid inflation. Now might be a good time, before all those flood damaged homes come back on the market, unless of course you get a tenant who trashes the house. Ever checked the cost of rental house insurance.

What we need is a rapid release of housing blocks to bring the land component of housing back to something more sensible. Just a few years back, [3 or 4], you could buy a 1.5 acre block near me for $40,000. Now a 4000Sq Mt block is $299,000.

A small 3 bed on one of them brings $800,000, & you think $4000 a week is too much to charge for rent. Only an mathematical idiot would do it.