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Do you know if the tax applies to homes vacant for any reason, or just homes that could be on the market but aren't? Otherwise I could imagine a particularly un
by ryankupyn 10y ago
Do you know if the tax applies to homes vacant for any reason, or just homes that could be on the market but aren't?
Otherwise I could imagine a particularly unwelcome situation where a market downturn or other shock leads to landlords being unable to rent their units, then get hit by both the loss of rent and the 60% tax on top of that.
- RangerScience 10y agoHmm. While this is an excellent description of a downside, I don't know if it's ultimately a bad thing. You'd figure that in such a situation, the landlords are immensely incentivized to sell, or to lower rents, which may continue to be very unwelcome to them... ...but if the point is that real estate speculation is the problem, wouldn't the looming possibility of that situation result in less speculation, or very careful speculation? On the other hand, that would hit less wealthy landlords harder (larger percent of their wealth), encouraging them to sell, possibly simply driving more ownership to landlords with deep enough pockets to stomach the (temporary) losses? Complicated!