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this post was submitted on 10 Aug 2023
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Well shit. Now the solution seems so obvious.
A massive tax on owning multiple homes that goes to funding housing the homeless.
Oh no we couldn't do that! What we're just going to do something Singapore already does, and has been shown to actually work?
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.