I think that the implication was that they would have to sell in order to come up with the cash to pay the tax?
Comment on How would a wealth tax affect real estate rentals?
JumpyWombat@lemmy.ml 2 months ago[deleted]
bitcrafter@programming.dev 2 months ago
Steve@communick.news 2 months ago
Not necessity. Since housing will be cheaper to buy, some will do that instead of rent. so the market of renters will be smaller, keeping rental prices in check.
JumpyWombat@lemmy.ml 2 months ago
Steve@communick.news 2 months ago
Maybe fewer people faced higher rents since more bought instead.
As I said the tax itself won’t fix everything. If rents get too high you need to adapt zoning to encourage more duplex and multifamily homes.