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.
Landlords should pay 100% tax on their empty rentals.
You’ll see how fast they will accept any and all new tenants, at a much lower price.
Which would also flood the market with housing, lowering the prices even more until renting becomes an actual beneficial option compared to buying and paying off a loan.
Real estate would also not be seen as an investment anymore.
Real estate should be considered an investment. It’s one of the few things people invest in that is actually valuable. It’s the speculative and labrynthine financial markets that are the problem in that regard.
The only reason mega-renters like Blackrock and Vanguard are able to monolithically buy property in the first place is because of dubious speculative earnings and government bailouts.
It’s not surprising that home ownership was actually a lot higher 60 years ago.
But why should it be anything but a personal investment? I’m not seeing your point there. Isn’t it better for everyone to decommodify housing?
Income tax on no income sounds fucking stupid. Just up property tax on the 3th or 4th house or apartment by a fuckton, watch everyone panic sell their shit crashing the housing market into oblivion and call it a day. Ez affordable housing.
Landlords do have to pay an income tax on property regardless of whether it is occupied or not, it is just that when a property is not being rented, it generates 0 income and 30% of $0 is $0.
Do you mean some sort of land appreciation tax?
