The prime minister is meeting with his youth advisory board this week to hear its most ‘pressing concerns,’ with the aim of informing future policy decisions.
The prime minister is meeting with his youth advisory board this week to hear its most ‘pressing concerns,’ with the aim of informing future policy decisions.
Someone buying an investment property doesn’t increase the amount of housing available. Sure, it’s one more rental available, but it’s also one less home available to be purchased by someone planning to live in it. I won’t claim to be any kind of expert, but it’s pretty obvious that it having a middle man extracting profit increases housing costs overall.
The type of investors that do increase housing are developers. In the tax model above, the developers can apply to have the tax reduced to 5% which seems to make it much more lucrative than buying individual houses to rent as is.
If they don’t increase the amount of housing, then they don’t decrease it either, right? They effectively move a house that would be bought by a home buyer, to a house that would be rented by a renter.
I can see how given the argument that landlords generally make profit, that they are a needless middleman, and therefore they contribute to higher housing costs. Is there any evidence that this impact is so substantial that regulating independent landlords will be a boon for consumers of housing?
I appreciate you sharing your perspective! I remain open to be informed as to how such a policy would help the housing crisis.
Yes. The evidence is the housing market in 2023. Tax domestic speculators. Regulate the hell out of them. They are the main reason that everything is so screwed.