It would still work in a heavily regulated market, yeah, but the thing with georgism is that it tends to be advertised as a kind of one-size-fits-all solution to the housing market, as a highly sought after "single tax" or "perfect tax". If you look at the historical ties of georgism which I also kind of struggle to remember, I think I remember that being kind of, the thing about it, was that it was aligned with like, the dominant labor parties, but was kind of seen as too moderate and singularly committed of a position.

So, the tax itself is cool, and agreeable, but the georgists as a kind of, party, and georgism as a philosophy built around a singular tax, I'm still not sure about. I'm skeptical of silver-bullet solutions, which is what georgism is often made out to be. It also gives me bad vibes because anytime I hear someone talking so highly about some obscure 19th or 20th century political philosophy, it gives me the same alarm bells as people who want to be rhodesian infantrymen, or people who want to be dengists, or shit like that. I dunno. Henry george was an interesting and prescient dude but he was also in many ways a product of his time, I think. Here's marx talking about him in a letter I haven't read, might interest you I guess.