Ill argue that the whole purpose of this tax structure is get houses into the available pool of property for regular folks to buy. Think of the needs of the many vs a 2 week vacation for you which you could still take in a hotel or a company that does vacation rentals somehow.
It kind of felt that way for me, at first, but then I thought about the types of houses that fit the bill: secondary residences in NYC. I can’t imagine that those houses are going to be affordable to the “regular folks” that need them, even if they go on the market.
I think it’s more a “you clearly have enough money to burn, so more taxes aren’t going to impact your lifestyle” thing than opening up these properties to buy. (Which works for me.)
Ill argue that the whole purpose of this tax structure is get houses into the available pool of property for regular folks to buy. Think of the needs of the many vs a 2 week vacation for you which you could still take in a hotel or a company that does vacation rentals somehow.
It kind of felt that way for me, at first, but then I thought about the types of houses that fit the bill: secondary residences in NYC. I can’t imagine that those houses are going to be affordable to the “regular folks” that need them, even if they go on the market.
I think it’s more a “you clearly have enough money to burn, so more taxes aren’t going to impact your lifestyle” thing than opening up these properties to buy. (Which works for me.)