The Housing Market Hasn't Changed as Fast as It Was 27 Years Ago

Someone's selling their home for 700,000 and buying into the one for 500,000. Would it present have to pay 12,500 in stamp duty? Right. That would be a lot more if you're downsizing from 5 to 3 million or something. If it's an elderly person, they probably bought that house for 50,000. And now they're being relieved of taxation despite selling it at an absolutely enormous profit. But I think that completely absurd policy. The Richmond housing market must have changed quite considerably in the 30 years you've lived there, Matthew.