It also severlely penalizes the elderly and retired, who don’t earn but certainly still vote.

In my city in Australia it’s common to see a single elderly retiree living in a rundown home on a large block, where the land alone could be worth close to a million dollars. When the property is sold it can often be split into two, and house two families in detached homes.

It feels cold hearted to say elderly should be pushed out of homes they have lived in for 50 years. But it does make it harder for cities to grow - the carrot of higher prices doesn’t seem to work for people who just want to live out their days in the community and home they know.