Those people also put nothing into local economy through their spending. You get the vancouver effect. No incomes or jobs, but high housing prices. A high ta

Those people also put nothing into local economy through their spending. You get the vancouver effect. No incomes or jobs, but high housing prices. A high tax for unoccupied residences would be a better one. It would increase housing supply so the double whammie of buying a house and leaving it unoccupied wouldn't effect the housing supply nearly as much.