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The fact that we prioritize the interests of wealthy homeowners over society at large is partly why we have a housing crisis in the first place. If anything homeowners are usually favored when it comes to paying taxes in two primary ways; limits on how much property taxes can be increased and assessed home values that are often lower than the market value of the house.
Don't forget they also get a Federal $500K exclusion on the gain of the sale, limiting the taxes. Agree with you, the incentives should be the other way around so that young families can afford a roof over their heads.