There’s always talk about tax breaks for home owners…
Never talks of raising taxes on landlords and empty units tho.
That’s what would fix it. Tax them out of the housing market slowly and.prices will go down as they get out of the business.
Indeed. Nothing about this addresses rental markets and general extreme cost of living. Rather, it finds new ways to prop up severely overvalued housing markets.
Housing costs are so high because it’s become an investment over a necessary place for a human to live. A correction is severely needed and long overdue, but the government works hard to keep values artificially high from zoning laws at the bottom to preventing corrections at the top.
That and most people just do the standard deductions.
So tax breaks mostly help the wealthy in mansions.
It’s like how conservatives want to move income tax to sales tax. The wealthiest make a lot more than they spend. And when they spend it’s usually thru some shady shit where they don’t pay sales tax. Like claiming seven figure personal vehicles as a “company car” from a company they own.
Wouldn’t a tax hike only get passed through to the renter?
That’s why you set it exponentially based on units owned by parent company, maybe break it down as a tax paid by shareholders for huge corporations landlords.
They could try to pass it on to consumers, but smaller landlords wouldn’t have to pay it.
Making the biggest get out of the game first
They will just split the units owned on more companies then.
That’s why you set it exponentially based on units owned by parent company, maybe break it down as a tax paid by shareholders for huge corporations landlords.
That might not have been clear.
Set it at the parent company level so it’s not easy.
If they have X amount invested in rental real estate, that can just be taxed then
Believe me, the tax code for the wealthy is already complicated, they can handle this
