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I think you are punting on government policy in a big way but each to his own. Fortunately for PI's land tax was ruled out immediately upon release of the Henry review and though you guys already pay land tax (assuming you own more than a PI or 2) it is the effect it would have on asset values...

Affordability only determines demand at various prices, not new supply at various prices. If we had double the workforce / participation rate this should not effect the price of a product. Land is limited, sure but the price of development land is only what it is due to a shortage due to short...