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We had anti-hoarding measures on masks but dont seem to have them on homes. Every additional income property you own (and used as such) should have an escalati

We had anti-hoarding measures on masks but dont seem to have them on homes. Every additional income property you own (and used as such) should have an escalating hoarding penalty.

tehjoker 5y ago
These penalties are never high enough to actually discourage the behavior. It's better to just ban accumulating more than X homes, where X could be as low as 1.
- trident5000 5y ago
  Im good with that idea on investment properties. Though I have no issue with people having vacation homes. Theres a natural limit to how many vacation homes someone can have without a revenue source on the asset.
  - vetinari 5y ago
    And that limit is enforced by upkeep costs. Owning homes isn't free, you know. It is a physically depreciating asset, that you have to take care of, whether you use it actively or not. Doing so costs money, so depth of your wallet puts a firm limit on the amount of properties you are capable to take care of.
    - trident5000 5y ago
      Yep thats what I was getting at. Taxes and insurance alone put in a nice dent every year.
      - vetinari 5y ago
        > Taxes and insurance alone put in a nice dent every year. Just make sure you know what are you doing. For rental properties, these things will be paid by the tenant in the rent, and for those wanting to get their own property, it will push it even further out of reach.
    - tehjoker 5y ago
      Many landlords own tens, hundreds, or more properties. There is not a level distribution.
      - vetinari 5y ago
        So what? It is business as any other. If someone owns many hundreds properties, there is probably investor money behind that. There is not a human right to get assigned a dream house. You have to purchase, build or otherwise procure it. People make different choices with their money, some people save/get mortgage and then get a house, other people will spend their money in other ways.
- disabled 5y ago
  The penalties can be effective if you are a citizen of the country that you are purchasing the home in. Also, for American citizens, they almost always have US annual income taxes, which are taxed on worldwide income. The taxation situation becomes tremendously more complicated if you own a home (or homes) abroad. So, interestingly, Americans may hoard homes stateside but rarely so abroad.
prawn 5y ago
State government where I live floated a change to land taxation. Previously, any property beyond your home was subject to a tax. Developers got around this by having each development owned by a different entity. The state government intended to change this so that your ownership of a sub-entity counted - if you owned a trust that owned property, that counted against you. Developers were aggressively vocal in lobbying against this. Every excuse in the book. Not sure if it ever got through, but the developers shut up about it so maybe they won.

We had anti-hoarding measures on masks but dont seem to have them on homes. Every additional income property you own (and used as such) should have an escalating hoarding penalty.

tehjoker 5y ago

These penalties are never high enough to actually discourage the behavior. It's better to just ban accumulating more than X homes, where X could be as low as 1.

trident5000 5y ago
Im good with that idea on investment properties. Though I have no issue with people having vacation homes. Theres a natural limit to how many vacation homes someone can have without a revenue source on the asset.
- vetinari 5y ago
  And that limit is enforced by upkeep costs. Owning homes isn't free, you know. It is a physically depreciating asset, that you have to take care of, whether you use it actively or not. Doing so costs money, so depth of your wallet puts a firm limit on the amount of properties you are capable to take care of.
  - trident5000 5y ago
    Yep thats what I was getting at. Taxes and insurance alone put in a nice dent every year.
    - vetinari 5y ago
      > Taxes and insurance alone put in a nice dent every year. Just make sure you know what are you doing. For rental properties, these things will be paid by the tenant in the rent, and for those wanting to get their own property, it will push it even further out of reach.
  - tehjoker 5y ago
    Many landlords own tens, hundreds, or more properties. There is not a level distribution.
    - vetinari 5y ago
      So what? It is business as any other. If someone owns many hundreds properties, there is probably investor money behind that. There is not a human right to get assigned a dream house. You have to purchase, build or otherwise procure it. People make different choices with their money, some people save/get mortgage and then get a house, other people will spend their money in other ways.
disabled 5y ago
The penalties can be effective if you are a citizen of the country that you are purchasing the home in. Also, for American citizens, they almost always have US annual income taxes, which are taxed on worldwide income. The taxation situation becomes tremendously more complicated if you own a home (or homes) abroad. So, interestingly, Americans may hoard homes stateside but rarely so abroad.

prawn 5y ago

State government where I live floated a change to land taxation. Previously, any property beyond your home was subject to a tax. Developers got around this by having each development owned by a different entity. The state government intended to change this so that your ownership of a sub-entity counted - if you owned a trust that owned property, that counted against you. Developers were aggressively vocal in lobbying against this. Every excuse in the book. Not sure if it ever got through, but the developers shut up about it so maybe they won.