Housing Bubble 2: Return of the Ugly

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A community for discussing and documenting the second great housing bubble.

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Hey wait a minute, then why are prices so high. (lemmy.world)

submitted 3 months ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 3 months ago (2 children)

Unoccupied does not mean unowned.

[–] [email protected] 0 points 3 months ago (1 children)

What difference does it make. If no one's in it, it's not making money, yet real estate is still priced like every SFH can get 3k in rent.

[–] [email protected] 1 points 3 months ago (1 children)

That’s what occupancy taxes are for. If it is taxed for every month that it’s empty, it’ll get sold or rented.

[–] [email protected] 0 points 3 months ago* (last edited 3 months ago) (1 children)

Victoria has introduced a tax on vacant homes, but they're finding it hard to enforce in practice (there's really only a bunch of indirect indicators that you can rely on, stuff like census date, electricity use, etc), and it turns out that the bastards that would just leave a house empty have no issue with not declaring this.

[–] [email protected] 1 points 3 months ago

Land Value Tax solves this problem.

[–] [email protected] 0 points 3 months ago

Yeah, that’s the problem.