this post was submitted on 31 Mar 2025
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It’s not that simple though. Sure, they can buy new properties, but they can only buy so much. We’re talking 500k new homes per year.
You could aggressively tax people who own multiple homes, but it doesn’t address the fact that there’s a clear lack of housing for the population. Property investors are just one part of the equation.
And if the rich does snag up a lot of these units, we can then talk about taxing these people, or perhaps limiting purchases of affordable houses only to first-time buyers or low-to-medium income households, creating a sort of loose air gap between the two markets (luxury and affordable). In any case, your worries are without solutions, but those houses need to be built regardless.