Comment on How to Stop the Affluent from Rigging the Housing Market
halcyoncmdr@piefed.social 1 day ago
One fix that works everywhere would be increasing property taxes on any housing that isn’t occupied for more than 50% of the year. This is primarily aimed at landlords setting insane prices and allowing places to sit vacant for years at a time.
Place isn’t renting out at your price? It’s overpriced. Regardless of what you want to believe.
Taxes increase for every 6 months it’s unoccupied. Force the market pricing back down to what the market can actually bear. Invest the increased taxes into public housing and infrastructure.
Hell, do the same for commercial real estate. Deflate the real estate bubble slowly instead of waiting for it to explode like we always do historically.
Tollana1234567@lemmy.today 19 hours ago
or add a tax for companies that are buying these houses up, including for airbnb, so it doesnt hurt people who arent well off.
halcyoncmdr@piefed.social 18 hours ago
Second part is limiting companies to just a handful of single family homes. Applying to all related parent companies and subsidiaries. Only exception for homes used by employees more than 50% of the year. To accommodate businesses that pay for housing as part of compensation, long term travel, relocation assistance, etc.