Tax homes based on how many you own, and how many are vacant. Allow two homes at a regular rate; Enough for a summer and winter home. Then ratchet tax rates up as the person buys more.
And if the third, fourth, fifth, etc home sits vacant for more than a few months out of the year? The tax rate goes up even more, so giant corporations can’t just buy entire neighborhoods and sit on them to remove them from the market and increase property values for the other homes they own across town. Because that’s what’s happening now; Giant corps are buying homes and letting them sit vacant, just to remove them from the market so they can charge higher rates elsewhere. Allow a few months of grace for renovations and finding tenants… But after a ~3 month grace period, that tax rate skyrockets.
Incentivize the corporations to actually flip the houses and resell or rent them, instead of just sitting on them.
I propose exempting high-density apartment and condo buildings from the taxes. Developers may be building those residences for their own cynical profit motives, but it does happen to greatly benefit society.
Alternate take: If we actually implemented my above plan, you wouldn’t need to be stupidly rich to own two homes. Home prices would be reasonable, because there wouldn’t be giant corporations hoarding all of the real estate.
noxypaws@pawb.social 2 days ago
I like that idea, but it’d have to come with some mechanism to prevent parasites from buying a bunch of them up and renting them out.
fuck if I know what such a mechanism would look like though…
TheFrirish@jlai.lu 2 days ago
Government Owned Social Housing Program
interdimensionalmeme@lemmy.ml 1 day ago
Severely impede sale of all houses purchased by people who cannot strongly demonstrate they intend to live in them.
PM_Your_Nudes_Please@lemmy.world 2 days ago
Tax homes based on how many you own, and how many are vacant. Allow two homes at a regular rate; Enough for a summer and winter home. Then ratchet tax rates up as the person buys more.
And if the third, fourth, fifth, etc home sits vacant for more than a few months out of the year? The tax rate goes up even more, so giant corporations can’t just buy entire neighborhoods and sit on them to remove them from the market and increase property values for the other homes they own across town. Because that’s what’s happening now; Giant corps are buying homes and letting them sit vacant, just to remove them from the market so they can charge higher rates elsewhere. Allow a few months of grace for renovations and finding tenants… But after a ~3 month grace period, that tax rate skyrockets.
Incentivize the corporations to actually flip the houses and resell or rent them, instead of just sitting on them.
Cryophilia@lemmy.world 1 day ago
I propose exempting high-density apartment and condo buildings from the taxes. Developers may be building those residences for their own cynical profit motives, but it does happen to greatly benefit society.
michaelmrose@lemmy.world 1 day ago
Nobody needs a summer and winter home tax the living shit out of rich fuckers with 2
PM_Your_Nudes_Please@lemmy.world 1 day ago
Alternate take: If we actually implemented my above plan, you wouldn’t need to be stupidly rich to own two homes. Home prices would be reasonable, because there wouldn’t be giant corporations hoarding all of the real estate.
alcoholicorn@lemmy.ml 1 day ago
Rent control tied to bottom quintile income. Everyone should be able to afford a home. If construction companies can’t afford to build homes at that cost, look at their material and labor costs; in China they invest in education and have state-run steel and concrete companies to keep the private ones competitive. It costs them avg ~50K to make a 900 sqft 2bd house or apartment in the major cities. Much less elsewhere.