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I think a good (or at least simple) solution for this problem is to increase taxes on non-primary residences, as a simple case the tax rate could be: 20% + 10%
by joshgrib 5y ago
I think a good (or at least simple) solution for this problem is to increase taxes on non-primary residences, as a simple case the tax rate could be:
20% + 10%/extra house
So if you own 9 houses you're paying 100% in taxes, making it untenable to be a large-scale landlord. This should cause a bunch of housing to go on the market with people wanting to avoid that tax risk, also driving housing costs down
- josephcsible 5y agoHow do you suppose this would work with, e.g., high-rise apartment buildings?
- joshgrib 5y agoYeah that's definitely one of the holes, I think it would have to be as condos that are for sale - and not solely as units to rent. Not a foolproof plan, but we could at least make it a law for normal single-family housing as a start and then figure out what makes sense elsewhere. Housing definitely seems complicated enough that you can't have one simple solution and we'll need a bunch of things that each help out a little bit