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This is a cool idea.
(lemmy.world)
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this post was submitted on 10 May 2025
102 points (98.1% liked)
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Funny story, we actually have enough housing for everyone. It just isn't always where people want to live, and corporate landlords would rather leave a space vacant to drive up rents than make all of their inventory available, so there is a shit ton of residential (and commercial) property that is basically abandoned.
Some estimates say there are as many as 12 vacant homes per homeless person ~~this country~~ in the United States.
Edit: millionaire in OP is from Canada
Yeah, we were gonna do that anyway. After covid, I lost faith in humanities ability to be decent.
Took you that long? Wow. I had lost faith by the late 80s. For context I was only born in the early 80s. Once I went to kindergarten I realized society was awful and this planet sucks.
Unfortunately I haven't found another planet that hosts life I can move to.
Well, I wasn't alive in the 80s, so hard to lose faith in humans pre-emptiness. Lol
What we need is tax on vacant property. Make it a ladder system so its worse based on number of vacant units and value.
And eliminate corporate ownership of residential property. Tax the shit out of anyone owning more than three residences, and bring property values back down to earth. Bail out homeowners who owe mortgages for more than the value of the properties, and let the market self-correct.
It would have to take into account how long it's been vacant though.
I don't want to punish property owners the literal second someone moves out, and it's technically vacant. I also don't want to punish them if they need to make repairs or updates to the property in between tenants.
So lets call it a tax forgiveness period of 1 year. I figure thats enough time to get the property renovated, and advertised as being available for rent.
And yes, I'm sure theres going to be someone who abuses the rule by just keeping it vacant for 11 months, and trying to rent it that last month. But here's the thing. Those minded people will get burned. Because it takes time to rent properties. They'll find it may take 2 or 3 months to find a tenant. Or maybe on the 11th month, they'll realize they can't rent it because in the time the property sat abandoned, uninspected, rats infested the property. Now it needs extermination services and renovations which will take 5 months. Oh well. There's always SOME delay if you wait until the last minute. Which is why I gave it a generous year. Honest landlords won't get burned with that grace period. Scammers will.
I'd say 3-6 months vacant is considered empty. Especially in high COL areas.
This forces property owners to lower rent to get the property filled if they can't get a tenant. Thus bringing down rates.