this post was submitted on 22 Oct 2023
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You had me until the selling of the house. Plenty of normal people's only path to any kind of wealth is selling their property. Hurting them more is not the way to go.
Multi home owners, apartment rental owners, sure tax the shit out of them.
Is it more important that a tiny percentage of "normal people" get a chance to be millionaires just before they die, or that they all get to have a place to live without spending their entire lives scraping by?
Normal people selling their normal house at a normal price would not be affected. Only people trying to sell/rent trash for a premium would suffer, as they should, since they are gouging people and artificially inflating the market.
You’re including as people who should be punished:
-- people who have lived in the same place a long time
-- people who can no longer afford to live in gentrifying neighborhoods
-- elderly who need to downsize or move to a place with more accessibility or assistance
While I understand the urge to punish with taxes people getting excessive profits from real estate, you need to be careful of potentially cruel side effects
Only a problem if they try to sell their house for much much more than it is worth.
Only a problem if they try to sell their house for much much more than it is worth.
Only a problem if they try to sell their house for much much more than it is worth.
Noticing a trend here?
Yes, a lack of empathy? In all these cases and more, people may be selling for a large gain based simply on time, and yet it may not be a windfall but sorely needed to afford a place to live.
You may gpfeel that it’s difficult for a young person to save up enough to buy a house, but do you really think its any different for someone a fixed income or whose income doesn’t keep up with neighborhood costs to not be able to afford to own, and to fall farther and farther behind? Lack of affordable housing hits in many stages of life and it’s not reasonable to help one group while making life harder for others
Hey, if the house is with what you are asking, you aren't paying any additional tax. If you want to try and wait a little bit longer to get like 10, or 20k above market value, hey, thats a conversation you could have with the Realtor, but as someone who is actively house shopping with a very limited budget, I've come across many houses marked 30-40% above market value. Someone desperate to get out of the rent cycle is going to buy those and they are going to get fucked. The houses are marked up so high that the break point for holding that real estate and only getting half of the markup is 7-8 years down the line. So yeah, I'm the one missing empathy when I suggest that the people and corporations pricie gouging other people out of necessary housing, should probably get fucking fucked just a little bit.
If it's trash it won't sell. Dictating how much people can ask for their own belongings is some authoritarian shit I want no part of.
Property taxes are based on the value of the property right? I'm just saying we should update based on what the seller is asking for it. If it's worth what you are asking, then this makes no difference. It only matters if you ask for more, and even then it would only matter if you were asking for a lot more.
Homes should not appreciate in value, and we need, as a society, to stop viewing home ownership as "nest eggs" and wealth-building tools.
If housing value constantly goes up, housing prices are constantly going up. Homes cannot be a method of building wealth and also be affordable to people.
Raising taxes on landlords raises the rent.