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
Consider somebody who escaped generational poverty through athletics, film, etc. One of the smartest ways for somebody without a wealthy support system to end the cycle of generational poverty is to own property. Now, say that the sports star or a film star wants to by a secondary house for a friend, a teacher, a family member who helped along the way to expand that cycle of breaking generational poverty. Or maybe they want to purchase their childhood home. Whatever the reason may be, they are now being penalized for helping others.
They could just gift that friend $ to buy the house, instead of buying the house themselves
if said friend had debt (or is likely to get in debt) it makes mire sense to rent the house to them for a penny a year so it can’t be taken
If there’s that sort of cost disparity between the homes they might as well build new instead of purchase. The rules are easy to craft if you want to actually increase housing stock and lower cost of living.
Also, if they have HUNDREDS OF MILLIONS they can afford single digit extra millions for side projects.
Dancing around rich people’s feelings is absolutely keeping this problem alive and destroying people.