Many overpriced homes sit vacant while populations experiencing homelessness continue to grow in the U.S. See which cities have the highest disparity here.
I like the idea, but no good way for this to work out.
Small time landlords with a few properties will get fucked out of existence while massive corporations will get their overpriced lawyers to find a loophole and not pay a dime in taxes despite owning thousands of properties. Then they will just buy up the rest of real estate that small time landlords can’t afford now because of taxes.
There’s a 0% chance gov can implement this tax correctly, but even if by some random chance they do, corporations will simply pass it down to renters.
I like the idea, but no good way for this to work out.
Small time landlords with a few properties will get fucked out of existence while massive corporations will get their overpriced lawyers to find a loophole and not pay a dime in taxes despite owning thousands of properties. Then they will just buy up the rest of real estate that small time landlords can’t afford now because of taxes.
There’s a 0% chance gov can implement this tax correctly, but even if by some random chance they do, corporations will simply pass it down to renters.