The inflation councils face is the reason for raising rates, to cover costs.
Its always been the job of home owners to pay rates....likes its their job to pay the repayments and if interest rates rise the home owner pays that cost.
If homeowners are losing money due to rates rising they have 2 choices, either sell the house of increase the rent they are asking.
Your idea would be too clumsy and costly to run , ie what would you do with the 500,000 short term holiday rentals?
The bloody suckers are those getting tax breaks at the cost of taxpayers for purchasing assets that have negative returns and who vote at every opportunity to keep the ponzi going as the most important thing to them is their own back pocket, not how well a society functions...
