Grim recession warning over Labor’s negative gearing changes

PHOTO: Sydney’s median home price is now forecast to drop a further 6 per cent to 9 per cent next year.

Labor’s planned changes to negative gearing will be so dangerous during the property market’s current downturn they may “trip the economy into a recession’’, experts have warned.

Many industry figures are tipping Australia’s ongoing housing slump to stretch on for longer than previously expected — and a Labor Party win at the next federal election could be a major factor in the downturn continuing.

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