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A comment on GM self-driving tech unit Cruise laying off about 8% of staff. Parent comment

Re:GM self-driving tech unit Cruise laying off about 8% of s... by colechristensen on Friday May 15, 2020 @12:59AM (#23189040)
There's not enough downward pressure on rents in general.

Tax unoccupied space, and not a little. 10x property taxes for vacant units with real standards for what counts as occupied.

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Re:GM self-driving tech unit Cruise laying off about 8% of s... by mac01021 on Friday May 15, 2020 @08:47AM (#23191515)
That might deter the creation of new housing supply.
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Re:GM self-driving tech unit Cruise laying off about 8% of s... by mikepurvis on Friday May 15, 2020 @10:35AM (#23192639)
Vancouver's been doing a 5x property tax for vacant units for the past few years, and it does seem to be putting some pressure on owners to get them occupied:

https://globalnews.ca/news/6523554/empty-homes-tax-results-2...

Vancouver's normal property tax rate is just 0.26%, and the vacancy surcharge is 1% per that article.

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