It was semi necessary at the time, there is a window of boomers who have very little super as the majority of their working life was before mandatory super requirements got to useful levels.

So - get them into cheap investment property with negative gearing and CG discounts, let them build up equity, sell the family home/pay off mortgage when reaching retirement, use the cash and investment property to live a better life than just the pension.

It's not particularly necessary now, but we've let that horse well and truly bolt and every man+dog is into investment property now.