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Landlords should have to pay income tax on their rental properties regardless of whether they're rented out or not. (gothamist.com)
submitted 1 year ago by Blaze@discuss.tchncs.de to c/personalfinance@lemmy.ml
417 comments fedilink hide all child comments

cross-posted from: https://lemmy.crimedad.work/post/12162

Why? Because apparently they need some more incentive to keep units occupied. Also, even though a property might be vacant, there's still imputed rental income there. Its owner is just receiving it in the form of enjoying the unit for himself instead of receiving an actual rent check from a tenant. That imputed rent ought to be taxed like any other income.

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[-] BraveSirZaphod@kbin.social 2 points 1 year ago

Food is also a basic human need, and markets seem to work well-enough for that. The core difference is that, while we have an extreme abundance of food to the point of waste, cities have been underbuilding housing for decades and there are far more people wanting to move to them than available housing units, so only the richest people get the housing. This puts a lot of positive pressure on housing prices

[-] Olgratin_Magmatoe@startrek.website 1 points 1 year ago* (last edited 1 year ago)

Food is also a basic human need, and markets seem to work well-enough for that

That's because it is easy to compete to sell food. Housing doesn't work that way.

cities have been underbuilding housing for decades

It's not just cities, but I otherwise agree.

[-] BraveSirZaphod@kbin.social 1 points 1 year ago

That’s because it is easy to compete to sell food. Housing doesn’t work that way.

Agreed, but there's a lot that could be done to make it much much easier. For nearly a century, housing policy has been explicitly designed to make housing a productive asset for investment, which is a goal that's fundamentally opposed to housing being affordable.

[-] Olgratin_Magmatoe@startrek.website 2 points 1 year ago* (last edited 1 year ago)

Agreed. Housing is a right, a basic necessity, not an investment vehicle.

this post was submitted on 24 Aug 2023
741 points (88.5% liked)

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