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You want housing prices to cave? Jump property taxes for landlords (short-term rentals included) and you'll see a shit ton of houses on the market tomorrow.
by rhacker 4y ago
You want housing prices to cave? Jump property taxes for landlords (short-term rentals included) and you'll see a shit ton of houses on the market tomorrow.
- Invictus0 4y agoHow would that help the rental market? Wouldn't landlords just pass on the price increase to renters?
- nemo44x 4y agoAll you have to do is continue to raise interest rates. That will lower the value of property. However, it won't change how much you pay/month for the property as people will pay whatever they can afford to per month to live where they want to. It's just more of that payment will go to interest. So yes, the list price will crater but the actual cost to buy the place will be the same. The only person it really benefits is cash buyers which most people aren't. This could actually make homes less accessible to most people as their mortgage bid will never beat a cash bid.