this post was submitted on 01 Oct 2023
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Higher taxes is just a cost of doing business which is passed on to other tenants, be it long or short term rentals, even if housing stock is temporarily held - though I don’t disagree that such a vacancy tax is a good.
GP was right - forbid corporations from owning any residential property if 4 or fewer units and greater than four unless the building is wholly owned.
On the tax side, add a purchasing tax of 15-25%, 90% of which is rebated at closing for non-corporations who have not received the rebate in the previous 24 months. That targets flippers and property-bros willing to go naked on liability.
We do need to have an exception for those who need to buy through a corporation in order to protect their privacy, especially with the rise of professions such as streaming.
Those professions aren't going to be going anywhere anytime soon.
This would take all the single family and duplexes off the rental market and make a ton of people homeless. No thanks. There's enough people homeless in this country due to drug and alcohol issues.