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
people who have lived in the same place a long time
Only a problem if they try to sell their house for much much more than it is worth.
people who can no longer afford to live in gentrifying neighborhoods
Only a problem if they try to sell their house for much much more than it is worth.
elderly who need to downsize or move to a place with more accessibility or assistance
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
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.
