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Taxing those land/dwelling holding corporations just creates a pass-through situation where the end-user ends up footing the cost of those taxes. It ultimately
by Workaccount2 5y ago
Taxing those land/dwelling holding corporations just creates a pass-through situation where the end-user ends up footing the cost of those taxes. It ultimately just raises prices even more.
The best fix (and proper one) is for states/feds to step in, override zoning, and start mass construction of new multi-family housing.
- colinmhayes 5y ago> Taxing those land/dwelling holding corporations just creates a pass-through situation Rental prices are almost completely demand based because supply is completely inelastic in the short run and only barely elastic in the medium/long run. Landlords are already charging as much as the market will bear, they can't just unilaterally raise prices, people will move and they won't fill their units.
- Workaccount2 5y ago>people will move Where will they move?
- deleted 5y ago[deleted]
- colinmhayes 5y agoThere are plenty of housing substitutes. A cheaper town/neighborhood, roommates, less bedrooms. As people leave more expensive areas those areas are forced to lower rent back to where it was.