By Charles Hugh Smith
follow Charles Hugh Smith following
follow Charles Hugh Smith 2011 Oct 28, 12:38am
464 views 1 comments
This article is crap.
The problem that so much of the housing stock is owned by parasitical specuvestors is totally ignored.
Liquidating them is necessary too, if we want a rational housing market.
Property taxes should be assessed on the land value of the property. This would encourage economizing in land, creating more compact communities and redirecting site value from rent-takers to government, hopefully displacing taxes on more productive uses of capital.