The Prime Minister announced a new government agency to oversee billions in financial incentives for developers, a plan he spoke about during his election-campaign appearance on Village Media’s podcast
Politicians keep saying “affordable housing” then have zero scruples about selling a large portion of whatever housing they make, at bargain basement prices, to landlords.
I’ve seen this play before.
How about this, if any one person owns more than two “single family” dwellings, their property tax on the third property is 1000% increased… And add a zero for every additional property.
It won’t fix the problem, but it will sure as shit make it harder for a handful of people to own a nontrivial percentage of the residences in a city.
I know a lot of people have summer cabins and whatnot, so I wouldn’t want to really crank up the costs until you have 3+.
I figure anyone rich enough for three homes for themselves can afford the extra costs, and anyone looking to buy a home as an income property will get fuckered.
At least, that’s the idea.
If someone wants to buy one home for themselves and one to rent out, that’s acceptable losses IMO. It at least limits how many homes are going to become rentals.
But I’m being silly. I’m addressing the underlying issue of people buying up all the affordable housing so they can rent it out at a premium… That’s not what the government wants to do. They want to give money to their construction contractor buddies, who can give a small discount to their property management buddies who will buy up all the homes and rent them out.
Everyone wins in this situation… You know, except the poors.
But who cares about the Poor’s. They only pay for everything through taxes because the rich can afford to dodge all the taxes they would otherwise have to pay, and we have no wealth tax, so they’re getting away Scot free, and the rest of the population is left footing the bill.
Politicians keep saying “affordable housing” then have zero scruples about selling a large portion of whatever housing they make, at bargain basement prices, to landlords.
I’ve seen this play before.
How about this, if any one person owns more than two “single family” dwellings, their property tax on the third property is 1000% increased… And add a zero for every additional property.
It won’t fix the problem, but it will sure as shit make it harder for a handful of people to own a nontrivial percentage of the residences in a city.
It should be city landlords. My grandparents had a Council house in the UK for decades, it was cheap and maintenance was performed by the city.
I agree. It is really hard to justify why a person might need 3 or more homes.
I know a lot of people have summer cabins and whatnot, so I wouldn’t want to really crank up the costs until you have 3+.
I figure anyone rich enough for three homes for themselves can afford the extra costs, and anyone looking to buy a home as an income property will get fuckered.
At least, that’s the idea.
If someone wants to buy one home for themselves and one to rent out, that’s acceptable losses IMO. It at least limits how many homes are going to become rentals.
But I’m being silly. I’m addressing the underlying issue of people buying up all the affordable housing so they can rent it out at a premium… That’s not what the government wants to do. They want to give money to their construction contractor buddies, who can give a small discount to their property management buddies who will buy up all the homes and rent them out.
Everyone wins in this situation… You know, except the poors.
But who cares about the Poor’s. They only pay for everything through taxes because the rich can afford to dodge all the taxes they would otherwise have to pay, and we have no wealth tax, so they’re getting away Scot free, and the rest of the population is left footing the bill.