This sounds close to a land value tax. If you look around most US cities you will see a lot of land not being used for housing as compared to European cities.

This sounds close to a land value tax. If you look around most US cities you will see a lot of land not being used for housing as compared to European cities. Land used for parking, lawns, roads, and vertical space not filled with bedrooms all contribute to higher rents. True, there are zoning laws that restrict these housing uses, but there is also no encouragement from the tax code. Land value taxes encourage more efficient use of valuable space.