this post was submitted on 02 Nov 2025
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Because the rest of us don't have houses and aren't set to lose half our net worth by such policy changes. So, we have a variety of election policies that we prioritise.
When Labor propose making changes to the status quo, even with mild changes, they have historically lost the election.
It might be different next time, but it'd be a huge political risk to propose changes again after previous rejections.
Unless you're going to sell your house, it halving in value is irrelevant. In fact your primary place of residence halving in value would be an amazing thing for most people, as then they would be eligible for many handouts and subsidies that they currently wouldn't be thanks to means testing. People wouldn't have to sell their house to be able to afford in-home care (which is ironic).
Rates would also go down.