Redfin Economist says land value tax will fix the economy
It doesn&#x27;t have to be this complicated. We don&#x27;t need a land value tax.<p>The most straight forward way to make people avoid speculating is to heavily tax all non-primary residence homes. Cap the amount people can charge in rent to some %s of purchase value (incentive to have high purchase value) to and set a baseline on the taxes required and make the math for building property empire bleak (absolute destruction of the housing-as-a-financial-asset model).<p>If you want people to buy homes to live in them, and not as a store of value or speculative instruments, we can disincentivize that behavior directly.<p>It encourages productivity instead of rent-seeking <i>and</i> restores housing stock to people who are trying to <i>live</i> in a place, rather than extract value and it puts more taxes in government coffers from the likes of companies like BlackRock and REITs.<p>It&#x27;s simple. Tax people who buy homes they don&#x27;t plan to live in heavily.