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> If there is truly no housing vacancy, nobody will pay the vacancy tax, and NIMBYs have weakened their position by losing an excuse to block housing constructi
by fennecfoxen 4y ago
> If there is truly no housing vacancy, nobody will pay the vacancy tax, and NIMBYs have weakened their position by losing an excuse to block housing construction.
Is 1,893 vacancies in the entire city of Vancouver close enough to "nobody" for you? Is it enough to fix the crisis and render housing affordable again?
- Retric 4y agoDon’t assume the only options are a 100% fix or do nothing dropping prices by even 1% makes a significant difference. Further these taxes aren’t about the every day situation they are to get the market to respond to temporary dips which helps deflate bubbles and keep the market healthy.
- fennecfoxen 4y ago> Don’t assume the only options are a 100% fix or do nothing dropping prices by even 1% makes a significant difference. This is hyped as the Big Headline Fix For Everything and its impact is trivial. 1% impact on rents? No way. Zero-point-one percent, maybe, but I still doubt. Why is anyone even wasting time talking about it? Where is their vision?