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Landlords should have to pay income tax on their rental properties regardless of whether they're rented out or not. (gothamist.com)

submitted 1 year ago by Blaze@discuss.tchncs.de to c/personalfinance@lemmy.ml

440 comments fedilink hide all child comments

cross-posted from: https://lemmy.crimedad.work/post/12162

Why? Because apparently they need some more incentive to keep units occupied. Also, even though a property might be vacant, there's still imputed rental income there. Its owner is just receiving it in the form of enjoying the unit for himself instead of receiving an actual rent check from a tenant. That imputed rent ought to be taxed like any other income.

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[–] krashmo@lemmy.world 2 points 1 year ago (2 children)

Sure, all that's true, but it doesn't invalidate what I'm saying. I think people are angry and ready to get out the pitchforks. There's been decades of policy debate with no actual improvements to the situation. People think politicians and the wealthy are using discussions like the one you're trying to have to delay meaningful change rather than find an agreeable solution for all parties. That's not to say you're wrong but you're assuming people want to avoid punitive action and I don't think that's true.

[–] BraveSirZaphod@kbin.social 3 points 1 year ago (1 children)

Totally agree with you; this frustration is a direct and obvious result of decades of policy failures. I just worry that a lot of the ensuing anger is a bit misplaced.

I do think that there's been a sharp acceleration in recent years towards actual concrete steps, even though they're not super flashy and will take more time to see results. There's been real progress towards zoning reform, abolishing parking minimums, and other bits of red tape that have played a huge role in housing costs exploding.

[–] krashmo@lemmy.world 1 points 1 year ago (1 children)

It probably will end with some poor decisions being made but sometimes a bad decision is all you can get. Hopefully it will get more meaningful discussion going at least.

Speaking of which, I appreciate your point of view and your demeanor. Civil discourse seems pretty rare these days.

[–] BraveSirZaphod@kbin.social 1 points 1 year ago

Same here! It's not often you get a online discussion about economics or housing policy that's civil and productive.

[–] Turkey_Titty_city@kbin.social 1 points 1 year ago* (last edited 1 year ago)

The landlords have much bigger pitchforks. Called the police, and the city government.

and they will fight any and every expansion of the housing market in order to protect their power and further increase housing values.