Every time we want to change society to benefit average people, we have to deal with ultrawealthy crybabies. We’re held hostage by those who already have it all. It doesn’t have to be like this.
They’d effectively be abandoning their properties,
They wouldn’t…
They can’t take a fucking skyscraper with them, and they still pay property tax where it’s at.
That’s why I’m saying if you wanted to keep them, you’d drastically raise property tax, with a reduction for states residents. Especially when talking housing, that would be huge.
A homestead taxed at 5% or an investment property at 25% means investment firms aren’t just going to stop buying, they’ll start selling. Which would solve but at least alleviate the housing crisis.
Like, specifically NYC, they’re in a weird situation they want to reduce the price of real estate. It can’t happen too fast tho or it 08 all over again.
But the best thing to reduce real estate prices, is taxing the fuck out of investment properties. Maybe throw a multi-year plan out there so it gets more and more painful every year. That way it’s not a fire sale all at once.
We have plenty of options, we just need to elect politicians willing to use them
They wouldn’t…
They can’t take a fucking skyscraper with them, and they still pay property tax where it’s at.
That’s why I’m saying if you wanted to keep them, you’d drastically raise property tax, with a reduction for states residents. Especially when talking housing, that would be huge.
A homestead taxed at 5% or an investment property at 25% means investment firms aren’t just going to stop buying, they’ll start selling. Which would solve but at least alleviate the housing crisis.
Like, specifically NYC, they’re in a weird situation they want to reduce the price of real estate. It can’t happen too fast tho or it 08 all over again.
But the best thing to reduce real estate prices, is taxing the fuck out of investment properties. Maybe throw a multi-year plan out there so it gets more and more painful every year. That way it’s not a fire sale all at once.
We have plenty of options, we just need to elect politicians willing to use them