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Simple solution would be to put a property and sales tax ramp on additional homes. Make landlords who own N homes pay 1.5^N the normal rate.
by m_ke 5y ago
Simple solution would be to put a property and sales tax ramp on additional homes. Make landlords who own N homes pay 1.5^N the normal rate.
- corpdronejuly 5y agoThe issue then becomes silly games with shell corporations hiding how many homes people own, which pushes homes into the hands of larger landlords who can afford to pay someone to play those silly games.
- m_ke 5y agoMake it pass through to the shareholders.
- deleted 5y ago[deleted]
- soperj 5y agoDon't allow corps to own housing.
- kadomony 5y agoThis is what pisses me off the most. America's housing is being sold to the wealthy, who then just turn around and siphon the rest of the wealth out of the middle-class and younger generations by forcing them into renting because the barrier to break into homeownership simply eclipses them.
- m_ke 5y agoThere's a whole cottage industry of house hackers now thanks to biggerpockets who specialize in BRRRing, as in buying, doing minor renovations, raising rents and then cash out refinancing to have money for the next downpayment.
- splistud 5y agoWhat other ideas do you have for drastically raising the price of rent?
- m_ke 5y agoI'd expect this policy to tank the real estate market, causing rents to fall along with it. Since you asked, another idea would be to slap a vacancy tax on top of this.
- user_named 5y agoThe simple solution is to build more.
- m_ke 5y agoAs long as landlords can use equity to buy up new buildings driving up property values and rents they will continue to do so. It's the same equation as crypto mining, as long as there's a return on investment they will continue to buy up GPUs.