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Homelessness and Empty Homes – Trends and Covid-19 Impact
- aurizon 6y agoBuying and renting homes has become a good business in these low interest days. In the past higher interest rates on mortgages and in money markets made buy to rent unattractive. Now cash from China, black cash, offshore cash are parked and get rents. At 2% you can leave a home empty and not compete by lower rents for tenants. Solution = easy, a rental business should attract business taxes on both rented and empty houses. This will impose a cost on this system that will drive out the rent seekers. You could exempt US citizens who rent our part of their own house, or perhaps one added home per family. Over a few years this will bring supply and demand closer together. Also scrap nimby housing bylaws as well as racist bylaws.