IMO, owning a second property should be just as expensive in taxes as it needs to be to not be profitable to own one as an investment property, in the short and

IMO, owning a second property should be just as expensive in taxes as it needs to be to not be profitable to own one as an investment property, in the short and long term. That way people can _have_ second properties, but it's going to cost them, and they can choose to accept the cost or not. A yearly 5% tax on the property value should just about do it. We need to start treating housing as a vital resource, not an investment, and rationing it.