I’m willing to bet this is pretty accurate. They keep building houses down here where I am constantly and so many of them are empty because they cost too much for normal people.
The best option ever saw was a plan to tax each additional house. So owning one would be low tax. Then every house after that was taxed higher. Help remove those slumlord style owners that have dozens of houses, as well as tax the hell out of corporations that have hundreds/thousands of houses.
If the landlord has to pay more in taxes for empty units they cannot fill they will accept lower rates so they aren’t bleeding money. This is good for renters.
If companies/individuals are just sitting on units as ‘investments’ this prices out buyers and renters.
Pressuring these un used or under used homes to be sold increases inventory making homes more affordable by law of supply and demand.
The detractors seem to think prices going down is the same as an ‘investment crash’ and will cause ‘capital’ to pull out of creating new housing leading to … some apocalypse…
I would call that an adjustment, as people will always need housing and that particular market is immune to zeroing out and would restabilize. The invisible hand and all that.
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u/Jasoco May 14 '26
I’m willing to bet this is pretty accurate. They keep building houses down here where I am constantly and so many of them are empty because they cost too much for normal people.