Budget reaction

My reading and viewing on this has not been extensive (to be specific - watched some ABC commentary, checked this morning's headlines at the Guardian, but also watched some of the "you can trust us to sniff the populist wind" Sunrise show on 7 this morning.  Oh, and maybe saw some panel on Channel 9 too?)  But for what it's worth, my impression is that the reaction to the Federal Budget last night, where we finally got some "maybe we've been a bit too generous to property investors for too long" action is pretty much "might not work, but not too bad".

I just suspect it will not hurt the government much at the next election because of a strong sense of "things can't continue the way they are" in terms of housing relevant policy that affects the younger demographic who feel (with some justification) that they will never get their own house until their parents die.  (Or perhaps, until their retired parents get sick of cruises and international travel and decide they can be the "bank of Mum and Dad" to get them into the housing market.)      

And the problem for the Coalition is that to argue strongly against such reforms is going to sound pretty much like "no, the current status quo for comfortable investors sucking up housing is OK", which I don't think is going to be an easy sell.   I guess they might swing towards a "we have to coddle One Nation supporters" line by trying to blame it all on immigration:  but that's not going to help win back the populous city electorates where they did terribly at the last election.

Anyway, let's see what happens.