The subtitle is pretty instructive: > If you tax blight, will you get less of it? I think the theory is that it will prevent “hoarding” by forcing land owners

The subtitle is pretty instructive: > If you tax blight, will you get less of it? I think the theory is that it will prevent “hoarding” by forcing land owners to make efficient use of their property, or sell it, thereby lowering the overall price. It creates a less favorable risk profile for speculative real estate. You buy land to do something useful with it, not to wait for the next market boom before you sell. I think the problem it aims to solve stems from the fact that once you own enough of the land you essentially can charge whatever you want.