I don’t enjoy the whole foreign investor solution, I think it’s a scape goat.
It matters little to me if the person fucking me was born in China or 10 miles from me. Being born in this country doesn’t mean you can screw over the rest of the population.
I’d rather see hard limits on how much property one can own. There is no reason for anyone other than the state to own those huge apartment complexes. Dismantle the land barons class, no one should own enough to house thousands.
I don’t think it is a scape goat. For example, many people from China are not trusting Chinese Yen, they often purchase property purely to hold value and won’t even rent it to others, because it would cause wear and tear. So it is basically a wasted unoccupied unit.
I think a less heavy-handed way of doing that is, every person can have 1 (one) permanent residence, and all other property you own incurs a much higher property tax. If you’re filthy rich and want a couple of houses, fine, but you’re gonna get taxed for it. But that will stop speculative house buying, more or less. Of course, this will never happen because states race to the bottom to offer low taxes to attract rich people. Another issue is, what if someone wants to live in a house but can’t afford to own it? Renting is the best option for a lot of people. I think that is solvable, but my idea would inevitably take a lot of property off the rental market.
I don’t enjoy the whole foreign investor solution, I think it’s a scape goat.
It matters little to me if the person fucking me was born in China or 10 miles from me. Being born in this country doesn’t mean you can screw over the rest of the population.
I’d rather see hard limits on how much property one can own. There is no reason for anyone other than the state to own those huge apartment complexes. Dismantle the land barons class, no one should own enough to house thousands.
I don’t think it is a scape goat. For example, many people from China are not trusting Chinese Yen, they often purchase property purely to hold value and won’t even rent it to others, because it would cause wear and tear. So it is basically a wasted unoccupied unit.
As for your suggestions I totally agree.
I think a less heavy-handed way of doing that is, every person can have 1 (one) permanent residence, and all other property you own incurs a much higher property tax. If you’re filthy rich and want a couple of houses, fine, but you’re gonna get taxed for it. But that will stop speculative house buying, more or less. Of course, this will never happen because states race to the bottom to offer low taxes to attract rich people. Another issue is, what if someone wants to live in a house but can’t afford to own it? Renting is the best option for a lot of people. I think that is solvable, but my idea would inevitably take a lot of property off the rental market.