Not in the long term if it leads to unproductive property being put to better uses, like building housing.

Land value taxes aren't a silver bullet that can solve problems like California's permitting process, but it would certainly align incentives in a much healthier direction than Prop 13 does.

Just to add, Singapore is quite unique in that it has like 85% homeownership (most of it government housing) and there are virtually no homeless people

It's closer to 78% and that is still potentially misleading .Young people living with their parents because they can't get a HBD flat are also included in that 78% figure.

Now minimum rent becomes the value of land rent, I still think increasing taxes hurt the people paying rent.

if tax is same for single family as high density

tax will be spread out over lots of people in high density

No change short term, long term lower rent.

LVT pressures land owners to use land more productively = more rental units available = lower rents.

It means lower property prices though, and it would push a lot of mortgaged property underwater.