this post was submitted on 13 Sep 2024
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Reads like a Ben Shapiro rant.
Why would states need to implement a vacancy tax on speculative properties if people could afford them?
Seems to be an increasingly popular strategy for reducing homelessness. San Francisco could get 90% of its homeless off the streets with the country’s fiercest housing speculation tax, but landlords are already fighting it tooth and nail
So the point you kept missing I'll throw you a bone man.
Someone can afford the home you're in. This "strategy" is only effective if everyone's on board. Otherwise a new family will be in there on the heels of your feet.
I've got half a dozen units on my block that are selling above the clearing price. They've been vacant for years. This is speculative real estate. The only people who can afford it are the developers and investors looking to accumulate housing stock on the gamble that someone will be able to pay the markup at some point in the future.
We're talking about rentals, dude. If the families could afford to buy, they wouldn't need to pay rent.
We just had a major rental catrelization scandal, by which landlords collaborated to keep vacant units prices above the clearing rate to deny their tenants anywhere cheaper to move.