this post was submitted on 16 Jul 2024
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[–] HootinNHollerin@lemmy.world 34 points 4 months ago (29 children)

That’s great!!!

Need to stop corporations buying houses next, and tamper foreigners buying up houses too (almost every country I’ve traveled to won’t let me buy so why not do the same?)

[–] Asifall@lemmy.world 1 points 4 months ago (16 children)

I feel like banning corporations from owning housing isn’t the panacea people expect it to be. It’s pretty impractical when you start talking about larger buildings and mixed use housing, and I’m not convinced it’s really a big driver of the problem.

I think a steep land value tax is a more workable solution. It incentivizes anyone who holds non-productive property (vacant homes in this case) to either make better use of the land or sell it. This also has the benefit of impacting individuals who own second homes or have mostly empty airbnbs.

Property taxes are insufficient for this purpose because they are generally based on the value of the home rather than just the land, so not only are they easier to game, but it disincentivizes improving the property.

[–] postmateDumbass@lemmy.world 2 points 4 months ago (5 children)

I disagree. No need to force development to destroy natural landscapes just to avoid a tax. Simply tax multiple residential properties somewhat exponemtially.

100%, 133%, 200%, 350%, 500% or something

[–] evatronic@lemm.ee 1 points 4 months ago (1 children)

Right.

Owning one or two residential properties is fine, more is problematic.

I say "two" to handle the very common case of children putting their parents' homes in their own name because Medicare clawback rules will take the home after they die if you don't do it early enough.

[–] BallsandBayonets@lemmings.world 2 points 4 months ago

The Medicare clawback crap is why we can't expect to fix one issue with capitalism without addressing all the issues simultaneously. Can't just raise minimum wage because landleeches will raise rents. Can't just have universal healthcare because a lot of people would become unemployed when the insurance industry dies its overdue painful death.

Universal healthcare, student loan cancellation (and free state university), UBI, and the elimination of for-profit housing. All within one president's term to have a chance of sticking past four years.

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