cryptoleft

There is no American “housing crisis”— there’s a supply-hoarding crisis to rig local market prices above the liquidity of local buyer capital. 

The policy solution is simple: poison-pill tax all non-occupant-owned housing to force immediate sale to local buyers at actual market rates.

Allowing unlimited non-local capital to supply-hoard vacant housing is simply anti-resident eugenics. Current residents are too poor, so replace them with richer ones— even if it causes widespread homelessness, forced migration and absurd energy costs for the displaced to commute. It’s as discriminatory as Federal Housing Administration redlining of black neighborhoods in the 1940s.

SG charges up to 36% tax on non-owner occupied residences for the annual market value of what it *could* be rented out for

This is just for the property tax, there is also income tax on the actual rental income

Chocolate rainmaker. Singer. Thinker. Voice