5 ms·
A house in Tahoe you use 3 weeks a year is not really rental stock, and it's not clear what benefit the public gets from your 2nd home that would justify a tax
by kevinburke 9y ago
A house in Tahoe you use 3 weeks a year is not really rental stock, and it's not clear what benefit the public gets from your 2nd home that would justify a tax subsidy
- epistasis 9y agoWith VRBO and other sharing apps, yes that house in Tahoe is rental stock.
- zorpner 9y agoShort-term rentals aren't housing.
- epistasis 9y agoYes, they are, but short-term, and it takes longer-term housing off the market. This is ravaging the housing markets of many mountain villages. Re-reading the comment I was originally replying to, the commenter might have meant that the 2nd home didn't justify a tax deduction, which I would most definitely agree with. A 2nd home is an investment, and there should be no tax incentives on that sort of investment.
- hkmurakami 9y agoWell in the states, a first home is already often a person's biggest investment.
- m-j-fox 9y agoSure, but in silicon valley one thing to do with your smalltime IPO winnings is buy a house and rent out your old one to someone who has yet to hit paydirt. Maybe part of what pushes prices up, but I like to think my renters are getting a better deal than they would from old-man Irvine. (The incentives to play this game are razor-thin, mostly down to tax advantages.)