490
(in)visible hand (thelemmy.club)
submitted 3 months ago by to c/whitepeopletwitter@sh.itjust.works
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[+] -7 points 3 months ago (4 children)

Landlording is almost uneconomical as it is in a lot of places. That’s why so many condos are completely vacant in expensive cities. People buy them and just hold them as a store of value, but don’t rent them out.

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  • [–] 16 points 3 months ago (2 children)

    vacant property tax. Mamdani did it. it works

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  • [–] -3 points 3 months ago* (1 child)

    It hasn’t even started yet. Where’s the evidence that it achieves the goal of increasing the supply of affordable housing?

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  • [–] 2 points 3 months ago*

    I dunno, common sense? Youll have two competing pressure for sure. On one hand, if holding vacant properties costs more, you're going to charge more rent on occupied properties to offset. On the other hand, you can only charge so much more above market rate without discouraging potential renters. If those numbers don't align for you, you sell your vacant property, increasing supply and reducing the market rates.

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