NOTE: Video sponsored by the ACTU
Key points
- It would make house prices increase by more than the maximum amount people could withdraw
- It would cost the government $1 trillion in the long run
- It would leave people with $200k less in retirement savings
- It would significantly affect the returns on all superannuation as funds would need to keep more cash reserves uninvested so it is available for withdrawal
Super is not the short term relief you are looking for though… More people floating around with more money would just push up the prices even more, offsetting any benefit from withdrawing super.
Now if we started talking about increasing supply perhaps, that would be a different story.