A housing shortage doesn't necessarily mean that new housing would be more profitable than something commercial. I do agree that this would encourage landowners

A housing shortage doesn't necessarily mean that new housing would be more profitable than something commercial. I do agree that this would encourage landowners to improve their buildings more in theory. I'm from a country that has a land value tax and frankly it just doesn't matter much. Maybe I just haven't seen the distorting effects that property taxes have.