On: Priced out of home ownership

[ethbr1]

I'd love to see a progressive rate purchase tax on properties. Proceeds to fund transit capital expansion.

Above the median, buyers (and therefore developers building) start incurring increasing transaction costs.

Part of the issue is that builders can dump luxury properties into the market, then wash their hands of future responsibility as soon as it's sold.

[int_19h → ethbr1]

Why not just have a progressive property tax, and use that money to fund local infrastructure as needed?

Or better yet just tax land heavily.

[ethbr1 → int_19h]

Because property taxes are one step removed from builder incentives. Better to directly adjust builder housing price choices, at least for intents of building less luxury housing.