"buying and selling homes is a business" and that's the main issue isn't it. Housing is a commodity and treated as such. When housing stops being treated as a commodity is when an even paying field will eventually occur. That is when the actual phrase demand vs supply will come into play. People speaking about 'it's all demand vs supply and there is no supply' speak only a half truth. Remove the concessions and lets see what actually eventuates. No one actually knows what will happen if CGT and NG is removed (the 2 big concessions) from housing in Australia. It's all put together as a theory of what may or may not occur. Weren't all the smart people working for banks, agencies, etc yelling from the roof tops that house prices were going to be smashed during COVID ... they sure did. Many more example out there where smart people are wrong or always changing their minds every few months, not just on housing.
It is political suicide if one tinkers with NG and CGT as Bill Shorten found out. There is too much money heavily invested, including the politicians.
People have to suck it up as housing only goes one way in Australia, and especially the East Coast, and that is up. You either get on the train, load yourself up with debt and buy OR you rent, live with your parents and wait for a wealth transfer to occur
