NOTE: Video sponsored by the ACTU
Key points
- It would make house prices increase by more than the maximum amount people could withdraw
- It would cost the government $1 trillion in the long run
- It would leave people with $200k less in retirement savings
- It would significantly affect the returns on all superannuation as funds would need to keep more cash reserves uninvested so it is available for withdrawal
How about we ban owning multiple properties, remove any incentives for property as an investment, enforce quality building standards, and use government funds to build affordable housing.
I think politicians should be banned from owning multiple properties. It’s a huge conflict of interest.
Absolutely. Great idea.