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Right, and so existing owners will be driven out of their properties by a rent they cannot afford being imposed on them. Their wealth will be decimated for the
by zepto 5y ago
Right, and so existing owners will be driven out of their properties by a rent they cannot afford being imposed on them. Their wealth will be decimated for the reasons you have already stated, and of course new buyers will be purchasing an option to rent rather than own.
What you are proposing is expropriation and state ownership of residential property.
- silisili 5y agoWhat I meant in my initial comment was progressive as in the more you own, the more you pay. Say, 0% on a primary dwelling, and an extra 5% every new dwelling. The point is to punish hoarders, not to punish homebuyers.
- zepto 5y agoI would recommend using a different and more explicit phrasing in future. ‘Hoarders’ is a needlessly loaded term though. It sounds like you want to punish individuals using houses as investments. How would your scheme deal with larger multi-occupancy dwellings? Would they need to be demolished, or would they be appropriated by the state?
- silisili 5y ago> It sounds like you want to punish individuals using houses as investments. Yes, that's exactly the goal.