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IMHO there is one rule all countries should instantiate to ensure affordable housing: Residence duty. Ie. the obligation to have someone living in a unit whethe
by tossandthrow 2y ago
IMHO there is one rule all countries should instantiate to ensure affordable housing: Residence duty. Ie. the obligation to have someone living in a unit whether this is the owner who occupies it or it is rented out.
To my knowledge it is only Norway and Denmark who has this as a formalized law.
- bombcar 2y agoYou can simulate this by greatly increasing property tax and the homeowner’s exemption at the same time. The result will be discouraging rentals - but you can create an “active rental” credit to offset if you wish. But perhaps reducing rentals is a good goal?
- tossandthrow 2y agoPersonally, I think the issue is affordable housing. Whether it is renting or owning is another discussion. High taxes will definitely encourage people to utilize their housing stock. But encouragement is not really enough for foreign investors. Instead the local government should be able to use housing with no registered occupants and rent it out to people in need. naturally there will be a due process, and the owner should be able to collect their rent payments at the municipality offices and take over the lease themselves. This would generate realistic housing prices. But then again - the oligarchy wouldn't like that an asset it made less speculative for them.
- apothegm 2y agoThere are always people for whom renting is a better idea than ownership. Especially younger people and many single people, but also those who want to be able to move easily for career or family reasons. Also, capital upkeep and repairs are difficult to save for for those living hand-to-mouth. (And some people just like not having the logistical responsibility for said capital upkeep and repairs.)