Trying to send a message and scare people, i don't think their intention is to destroy the economy.
If you take too much out of people's pockets then a lot of businesses will go bust and jobs with them. Good luck with increasing wages when that happens.
Migration to Australia starting to ramp up again and the Labor Party's permanent residency program will have them flocking here, this will support the economy along with house prices. Also, factor in a huge slowdown in construction with fewer dwellings and lack of supply, red tape in approvals etc.
Still big demand for new/renovated homes and they will be harder to find, as most people putting off renos or building due to the current situation.
