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Hawaii does that and it wrecks the housing market, because it creates two tiers of housing: leased land and owned land housing. All you will end up with is all
by _fat_santa 4y ago
Hawaii does that and it wrecks the housing market, because it creates two tiers of housing: leased land and owned land housing. All you will end up with is all the expensive property is going to be on "purchased land" and all the cheap properties will be on leased land.
Hawaii has a good reason for doing this because land is scarce and there is no place to go. Basically anywhere else this would be idotic IMO.
- colinmhayes 4y agoAll land should be leased from the government. That's what a land value tax is and there are many, many reasons it works much better than our current land system.
- settrans 4y agoIn effect it already is: we lack allodial title in the United States anyhow, and all land is subject to taking by eminent domain and taxation by local governments.