Here is one example of some commentary that I found on the subject . There are many others although most are on property type sites so I'm not sure if they are skewed a bit .
As I wasn't in the market in '85 , I can only surmise as to what happened. The fact that they pretty quickly brought it back and have not touched it since suggests to me that the government(s) think that it's a good idea.
Limiting ng to new properties might be a strategy but of course most people don't rent new properties , particularly low income earners. Will that bring down the prices of the older stuff creating a gap between them and the new ? Will that drag down the price of land and therefore make new housing cheaper ? Will developers want to participate in that market while it is transition or will they wait it out creating a further shortage ? The only place that I have heard of where this has been tried is here . Be interested to know if anyone has some experience from overseas .
As I said before , I think this is a far more complex situation than people think .
