> I don't think punishing people for what companies have done to inflate house prices is a good move though. The first is that if someone suddenly became wealt

> I don't think punishing people for what companies have done to inflate house prices is a good move though. The first is that if someone suddenly became wealthy because their house went up 3x in value and they want to continue living there then they can get a reverse mortgage. Assign that new found wealth in the equity to the bank in exchange for getting a monthly payment to pay the tax. If you're arguing they both should be able to stay, and keep the increase in equity that they contributed to them you're arguing housing should be a speculative investment (which leads to bad incentives). > Screwing over people that bought houses that they live in instead of fixing the root causes for all these insane price hikes seems completely backwards to me. The whole point is it's not. It's incentivising someone to move so they stop screwing over the 10-20 families they would like to buy a house but can't afford to because the supply is so low. By replacing the single story home with multi floor condos, more people can now afford homes in the area.