There are whole neighborhoods here in DFW where no one lives. It’s crazy when you consider the housing shortage in many places.
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Put in a vacant home tax and let the players play play play
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paging Henry George
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Why? Free market system- the higher the price goes the higher the associated construction and economic activity incentivised As long as Blackrock is paying appropriate property taxes/ etc nothing wrong with it
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How do you fix this without implementing NIMBY-ist policies such as bans though? Closest thing I can think of is Georgism-style Land Value Taxes.
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Providing rentals at market rates is fixing this. I don't think they need a push to do that. May even do it like Uber and go below market rates.
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It could lead to good things when institutional investors realize that building new housing is cheaper.
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