People who already have property would not be happy because the government would spend huge money on a program they are not interested. And it could make the houses prices lower (which could be not popular for people, who already paying a loan). Would attract people who are renting though.
Right, the high percent of people owning the houses gives extra stability to the country. It keeps prices reasonable and gives overall more options (wanna change a city for a new job? wanna start a family? need some space for your extra hobby, which could give you some money potentially?). Sadly, not many people connect all the dots.
It is pretty simple, parties estimated how many votes and influence they could get. And decided it is too little. The only way is to be more noisy (protests, pressing politicians to do it).
