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Raise interest rates and kill federal backed mortgages except for low income. Limit fed backed loans to 1 per household. Tax housing income as normal income. R
by bushbaba 6y ago
Raise interest rates and kill federal backed mortgages except for low income. Limit fed backed loans to 1 per household.
Tax housing income as normal income. Remove 1031b exchange. Remove depreciation of homes. Tax all housing sale gains.
Housing would then be affordable.
- calvano915 6y agoWhat do you mean!? The status quo is profitable, for the already or soon to be landlords.
- refurb 6y agoI upvoted you because while I might not agree with all of them, they are ideas that would certainly lower prices.
- Gustomaximus 6y agoA simple option, most countries already have land tax. Just make this proportional and federal. And by proportional I mean like income tax, so the first $1m is 0%, $1m - $3m is 1%, etc Not sure the best numbers but should be something were most people dont pay, even can have an investment property to cover need for a rental market, but if you have significant holdings it kicks in, and people with residential empires should basically be untenable unless it is short term holding to renovate etc. Also could apply top rates to residential property with corporate or foreign ownership so residential is for people to live in.
- almost_usual 6y agoStill wouldn’t fix the housing problem in desirable places.