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
I think we need a video on why it would be a good idea, because I can’t think of one (at least for the general public). I mean it is a good idea from the perspective of people with multiple properties and mortgages even on their own home because it will keep prices high