Canada

People already pay taxes on cumulative properties. You need this plus the progressive tax idea.

I think the concern is that:

• The rich would try to skirt this with numbered or shell companies, or family or other relations.
• The rich would pass this onto tenants.

Now, the solution is to a) couple this with rent control, b) exempt purpose-built rentals from this endeavour, and c) punish serial transgressions with confiscation.

Frankly, I think the idea of punishing malfeasance by landlords with confiscation to be just awesome: if you're a predatory slumlord, we take the house and repurpose it as RGI public housing. Do I worry about the government becoming predatory? Yes, yes I do, but in this case it's a lesser-of-two-evils thin.

Preach. I voted Green. Mike shows promise and he's consistent with messaging. Next election I'll more than happily stump for them.

Georgism making a comeback baby!

Forbid corporate ownership of anything under 4 units/12 bedrooms, and require them own 100% of any contiguous building over 4 units. Added taxes will just be passed on to residents. Corporations are used to aggregate money (both public corps and family/friend groups) and avoid taxes.

Then make a financial law that forbids making property loans with collateral which includes any real property that is not the property being purchased. No condo bros buying units and then re-fi-ing out to buy more.

how does that not just increase rent?

The issue is owners just fake the documents when your property tax or vacancy tax mail arrives. Friend of mine rents basement suite, landlord has not lived in main house for over two years, it has been empty the entire time. somebody comes every few weeks to collect mail.

We still don't physically have enough houses. It's quick, but not a fix.

So BlackRock can buy it and rent it out to people for $3,000 a month? What use is more housing if rich people who own 1,000 houses are just going to buy it? The solution is more complicated.

That is part of the solution, the othee part is not letting a foreign owner buy a place and leave it vacant.

That would require making more land and increasing the capacity of existing high-use, aging infrastructure for water, sewage, power, and trash. I can find you a cheap place to live out in the sticks. Hell, the town down the road from me has brand new, 3BR 2.5BA 1900SF homes with garage for $270k (USD). You only need 2BR/1BA and 1100SF? $150k. Thing is, it's a 30-40 minute drive to the center of my 200,000 person MSA. But this isn't a fun, entertaining city with excellent walkability, public transit, a major airport, and multiple concert venues and public spaces so people aren't flocking to move out here.