Personally I am in favor of systems that discourage speculative investment but encourage homeownership. This can be done without indiscriminately punishing people for realizing gains in the market value of their domicile. One such mechanism could be offering incentives or tax breaks that require the buyer to use the home as their primary residence for a certain amount of time.

I think having the opportunity to own the land you personally live on is a right. Owning land on which others reside but not yourself should be considered a privilege, and privileges always come with strings attached.