If you pay 1% for one house, someone with 2 houses should pay 2%, and a company with 2000 homes should pay 2000%
That would make it increasingly difficult for mega companies to buy up everything and torture the housing market
If you pay 1% for one house, someone with 2 houses should pay 2%, and a company with 2000 homes should pay 2000%
That would make it increasingly difficult for mega companies to buy up everything and torture the housing market
I agree with the spirit of this, but the one issue is that someone with a 40 room mansion pays 1%. I say make it simple and make second homes cost double. Third quadruple, etc.
Carve out some exceptions for narrow cases, like a congressperson who needs to maintain a separate home in DC.
I mean, I get what you’re saying, but 1% of a 40 room home would be pretty high would it not?
Some people have suggested that it starts after the second house, which I would be on board with. But also, it starts lower for one home. Two homes is significantly more, but still low. as the number goes up, the percentage goes up until it becomes untenable to buy massive housing stock for rental or investment.