There are so many great ideas that could have been implemented by now, and have been implemented in other countries. But the Liberals have only instituted policies to make it worse. Only now that the youth vote is leaving them they may at least pay lip service to it. It's honestly disgusting.
this post was submitted on 03 Sep 2023
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Preach. I voted Green. Mike shows promise and he's consistent with messaging. Next election I'll more than happily stump for them.
Triple property taxes for units not occupied by owners. Quick fix.
how does that not just increase rent?
Property taxes of 100% for units not occupied by owners. Income taxes on rental of 110%.
Problem solved.
I don't think you have put any thought in to this. How would that solve anything exactly? If you taxed rental income at 110% then nobody would ever be a landlord, and all existing landlords would evict their tenants immediately, leaving millions homeless. Do you just want a system where you can only live in owned properties and renting is forbidden?
Note also that I want to tax all non-resident properties at 100%. There'd be a lot of homes to go into.
well as long as you are admitting you are ok with state sponsored theft. Very Putin of you
Oh, is Putin the new insult from the libertarian crowd? I thought they were slobbering all over his knob. The winds change so quickly!
The issue is owners just fake the documents when your property tax or vacancy tax mail arrives. Friend of mine rents basement suite, landlord has not lived in main house for over two years, it has been empty the entire time. somebody comes every few weeks to collect mail.
Then why not check on it occasionally and put a hefty fine on it when they fake the documents? If you cannot make a new and important law because rich people will try to bypass it than the state is useless.
There definitetly should be a better method. An honour system by mailing and online affirmation of occupied unit is useless.
You'd have to have someone go door-to-door at random intervals for an absolute check, I think, but that isn't a bad thing provided that the people doing it are paid a reasonable wage.
Whistleblower law that lets people who finger this kind of landlord take ownership of the property at a nominal fee for processing the paperwork. Call it $25.
We still don't physically have enough houses. It's quick, but not a fix.
Forbid corporate ownership of anything under 4 units/12 bedrooms, and require them own 100% of any contiguous building over 4 units. Added taxes will just be passed on to residents. Corporations are used to aggregate money (both public corps and family/friend groups) and avoid taxes.
Then make a financial law that forbids making property loans with collateral which includes any real property that is not the property being purchased. No condo bros buying units and then re-fi-ing out to buy more.
how about prevent cooperate take over of nin commercial property, especially foreign takeover. Look at how they're swooping in on the victims in Hawaii after the fires.
Land value tax would fix this.
Georgism making a comeback baby!
this would work. It would make things like the 2009 banking crisis more of a crisis but maybe thats not a bad thing.
the other thing is downward pressure needs to be applied to the market: new units sold at below market value to people that don't already own homes
The solution is to build more housing.
That is part of the solution, the othee part is not letting a foreign owner buy a place and leave it vacant.
So BlackRock can buy it and rent it out to people for $3,000 a month? What use is more housing if rich people who own 1,000 houses are just going to buy it? The solution is more complicated.
The solution is complicated because people can't agree on the problem.
As with your comment and subject of the article there is plenty of people that are perfectly happy with the housing crisis as long as the remain to the favourable side of it.
So Basically, there's always going to be a crisis. Cool thanks.
I think the most novel proposal we put forward in the report is taxing the total real estate holdings of large landowners, as opposed to individually taxing each property using the aforementioned brackets. This could entail situations where large landowners own a portfolio of properties, each falling below that $3 million threshold, but that cumulatively add up to tens of millions of dollars. In this scenario, by taxing the total holdings instead of each property separately, these owners would no longer be able to avoid paying those progressive property tax rates.
There's a few interesting bits to this article, but I like this one the most. Property taxes on the cumulative amount of property a person or company owns is huge. It provides a punishment for buying up large amounts of property.