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You'd think that and yet when Vancouver brought in an empty homes tax they raised 115 million over 4 years.

• jeffbee 3y ago
  In other words it had zero significant impact.
  • Tiktaalik 3y ago
    Ideally you'd want to raise 0 and have 0 vacant homes, but they raised a bunch of money and reduced empty homes by 36%.
    • jeffbee 3y ago
      The idea that zero is the optimal number of vacant dwellings is extremely wrong.
      • Tiktaalik 3y ago
        yeah that's true. edit: But like being clear the tax only applied for things that were vacant long term, so like, it was quite possible for apartments to be vacant for "a while" between tenancies and of course there were a number of exemptions as well. So even within the context of this vacancy tax there was a lot of leverage for there to exist vacant apartments. The intent was effectively to kill off pied-a-terres and permanent vacant apartments.