Well it would probably do a pretty good job squeezing out young people and some individuals who barely can afford home prices and probably put more real estate in the hands of corporations and wealthier individuals that have better economies of scale probably that could probably eat more of the cost.
I love how people think increasing taxes for the very things that younger people could use to build their wealth are systematically being eliminated for them so that it’s *that* much harder for younger people to end up being financially independent…..
Let’s see. Raising property taxes for investment property might make my bottom line less profitable. But it wouldn’t affect my buying/selling decision in as much as I have sufficient resources to absorb the increased costs….. But it would be interesting to see how people just starting out to build their wealth will have one less tool to help them build wealth, as well as all the other tools that are gradually disappearing… But hey, I guess they can always join MyIRA and earn that most likely pathetically low interest rate…
I feel sorry for younger people that don’t have a silver spoon they will be inheriting…Things definitely aren’t looking good for them..
