The budget is aiming to remove negative gearing for established residential property. Much of that wealth has traditionally been tied to the family home, or a residential investment portfolio built one purchase at a time. And increasingly, the asset class shaping how that wealth is preserved and reinvested is not residential property. And the recent budget changes to negative gearing have removed much of the tax benefits that made low-yield residential investment viable for ordinary Australians. If residential property built the last generation's wealth, the question facing investors now is what builds the next one.