Housing Can’t Be Both Affordable and a Good Investment (2018)

Re:Housing Can’t Be Both Affordable and a Good Investment (2... by seanp2k2 on Thursday May 02, 2019 @04:39AM (#19805895)

I came up with a clever solution to the Prop 13 problem: tax the sale of that property with all of the previous savings if they ever sell it for a profit. So sure, you can stay in the house you grew up in, but if you're thinking you can get that million+ dollar pay-day because the land under your tear-down is now worth a boat load...

It might make it sting a bit less buying a single-family home in San Jose for 1.5mil and knowing that you're paying 10x the tax of your next-door neighbors.

[ Parent | on HN ]

Re:Housing Can’t Be Both Affordable and a Good Investment (2... by bobthepanda on Thursday May 02, 2019 @02:50PM (#19811225)

This would just trap people in their homes and exacerbate supply problems. Empty nesters would face a huge tax bill for vacating their home even if they sold and went to another state, so they might stay in a house that is way oversized for their current needs and take it away from someone else.

[ Parent | on HN ]