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You can pull capital out of it by making it expensive to leave a home empty. Then capital will go where they can get better returns. Bonus tax when the average
by chipsa 4y ago
You can pull capital out of it by making it expensive to leave a home empty. Then capital will go where they can get better returns. Bonus tax when the average occupancy of the property drops below a certain percentage, say.
- titzer 4y agoPeople will just rent it. I don't know what the solution to the problem is, but I fear where it's heading. If people cannot get housing, anarchy and revolution are in the making. Then it's heads on pikes, French Revolution style.
- chipsa 4y agoYes. That's the point. People will rent it. Which means they need to be priced such that people can rent it. (If the rent is too high, people can't rent, which means it sits empty, which triggers the punitive tax). Lower rents will drive prices down, as people will decide to rent instead of buy for a while.
- titzer 4y agoI don't think the empty tax is a bad idea, but I don't think it will have a substantial effect.