There are jurisdictions that have done things like this. British Columbia is one that introduced a "Speculation Tax" that was largely a tax on empty homes, with

There are jurisdictions that have done things like this. British Columbia is one that introduced a "Speculation Tax" that was largely a tax on empty homes, with the tax levy being very significant for secondarily owned homes being left empty. The net result is that it added thousands of rentals onto the market! https://dailyhive.com/vancouver/metro-vancouver-rental-housing-market-vacancy-tax https://dailyhive.com/vancouver/metro-vancouver-rental-housi... A very good thing but notably this is mostly a one time increase in homes (though the tax continues to incentivize newly built condos to be rented). So it's a good emergency sort of measure that absolutely helps with a supply shortfall, but in the long term there needs to be followthrough in more systemic policies to build more homes.