If you pay 1% for one house, someone with 2 houses should pay 2%, and a company with 2000 homes should pay 2000%
That would make it increasingly difficult for mega companies to buy up everything and torture the housing market
If you pay 1% for one house, someone with 2 houses should pay 2%, and a company with 2000 homes should pay 2000%
That would make it increasingly difficult for mega companies to buy up everything and torture the housing market
They would use proxy owners to stay at 1%. Maybe every employee of the corporation could be “an owner” for taxation purposes.
There are major tax breaks in at least the US for your first home. Yet companies don’t already do this because it would be fraud. Too risky. If the expense of getting caught is high enough, then companies don’t tend to break the law.
Make it a felony. Send an executive or two to jail. See how that shifts the behavior.