this post was submitted on 13 May 2024
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Housing Bubble 2: Return of the Ugly
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Doesn't address some issue of how every time a house goes up for sale in my neighborhood, it's immediately sold to some company, usually hundreds of miles away. Property isn't empty, but there's no chance of an average person to manage to own a house, and rental rates are largely at the discretion of a handful of companies.
If property keeps getting built faster and faster it's just a matter of time until the bubble pops. Taxing empty property will accelerate that popping or at least deflate it.
There's no need for competition in the rental market because there isn't enough housing. The problem is multifaceted, people should look not only to taxes but also liberalizing zoning laws.
Agreed, zoning laws and by extension car dependant infrastructure are a huge source of costs both to the individual and society.
Starting at the unnecessary additional land that it mandates, to promoting a one size fits all solution for every individual, to the additional roads and parking that becomes an enormous burden on the taxpayer to subsidize.
Incentivize not just more construction but more dense and varied construction the does not require the additional expense of private automotive transport.