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The bit about reintroducing it isn't an urban myth. The govt of the day (who had all the facts to hand) had such a strong belief that its' reintroduction would fix the rental problem that it did so. Subsequently, the rental market regained an equilibrium, which it has maintained since then.

There's a significant risk that it will. And then the baby boomers that were relying on selling their PPOR to fund their retirement will become dependent on the govt to fund their pension. Not an appealing prospect for a politician. However, the govt may take a different view once those BBs...