Instead of trying to invent new property classes and try untested social theories, let’s do what is known to work:
A. Stop the financialization of homes at the federal level by getting rid of the mortgage tax deduction and the sales tax exclusion on the sale of a personal home.
B. At the local level, reform zoning and remove the draconian restrictions on new home construction, especially of multi-family housing near transit. This will fix the supply issue, the primary driver of high home prices in high demand metros.
Once we remove these artificial government policy distortions that affect both demand and supply in the housing market, an actual free market will arise and drive down prices, especially of older, existing homes.
A. Stop the financialization of homes at the federal level by getting rid of the mortgage tax deduction and the sales tax exclusion on the sale of a personal home.
B. At the local level, reform zoning and remove the draconian restrictions on new home construction, especially of multi-family housing near transit. This will fix the supply issue, the primary driver of high home prices in high demand metros.
Once we remove these artificial government policy distortions that affect both demand and supply in the housing market, an actual free market will arise and drive down prices, especially of older, existing homes.