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Originally Posted by westopher
I'm not asking for a 1-2% tax on absentee owners. I think the tax should be 100%. Hell tax them 1000%. As far as I'm concerned if the problem is this large, they shouldn't be able to purchase, period.
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What you think isnt relevant though, no offense. It needs to be realistic, and the 1-2% tax is what some policy makers are talking about. But even then they realize it's a fine line to skirt. Demanding unrealistic options just makes ppl sound like extremist entitled NIMBY's, once again no offense to you as that is a view I'm sure many share.
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Well, it takes many people to make a city great, and they come from all socioeconomic backgrounds.
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When this runs it's course and all the skilled middle class young talent leave as since have proposed, then the city will suck and be less desirable, which will then make it cheaper. How many truly great to live in cities that are not expensive can you name off?
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All real estate investment is, is just old money multiplying to the families of the old money.
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That is pretty unfair. There are many who took heavy gambles when buying was a far less favorable proposition, bought several properties, worked their asses off to make ends meet, and are now cashing in their efforts over many many years. Yes, a huge turn of luck is involved. But isn't that really all investment is at the end of the day, a glorified trip to the casino?