I think it’s fine to use it as a speculation tool if you are living there. If not, then it should be a massive tax liability. Pressure people buying empty homes to either rent them to someone for cheap, live in them, or sell them.
this is precisely what NIMBYism is. People living in their own homes, who want to force up the value by preventing new homes from being constructed.
it’s also the reason for the crisis. without that attitude and all the zoning restrictions, our housing market would be much more cheap and flexible. but when you have towns that only permit like 50 new houses a a year, and the population is growing at 3x that, you have a serious problem
most people’s wealth is tied up in housing. so if you decouple that you will make most americans much poorer
I think it’s fine to use it as a speculation tool if you are living there. If not, then it should be a massive tax liability. Pressure people buying empty homes to either rent them to someone for cheap, live in them, or sell them.
this is precisely what NIMBYism is. People living in their own homes, who want to force up the value by preventing new homes from being constructed.
it’s also the reason for the crisis. without that attitude and all the zoning restrictions, our housing market would be much more cheap and flexible. but when you have towns that only permit like 50 new houses a a year, and the population is growing at 3x that, you have a serious problem
I think the concept of a tax penalty with some relief for having a tenant that isn’t being gouged sounds nice.