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re: What should be done about investors buying up homes?
Posted on 5/20/24 at 10:47 am to MadQfrog
Posted on 5/20/24 at 10:47 am to MadQfrog
Set a sales tax on second homes equal to the percentage of homes in the area not primary residences. If 25% of the homes are “rental properties” then the tax is 25% of the sale/construction costs. If it’s a third home, double it. Fourth home, triple it. No max. Apply this to individuals and investment groups. All funds generated by this tax go directly towards lowering interest rates on primary residences (of which you are ineligible if you have more than one). Exclude camps and hunting grounds as long as their value is less than that of your home.
Add 5% per year property tax to all foreign owned properties and this fund goes directly to lowering interest rates on first time home buyers.
Ban any foreign ownership of farm/timber land. Period.
Add 5% per year property tax to all foreign owned properties and this fund goes directly to lowering interest rates on first time home buyers.
Ban any foreign ownership of farm/timber land. Period.
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