Think about what the investment company’s tax rate would look like. They’d be bankrupt instantly. They’d have to pay 10M/year in taxes to maintain ownership of $10M in property.
That’s not how this works. A better solution would be to tax more aggressively second+ homes and severely limit what corporations can invest into.
Why should a company be able to profit off of second hand housing? This isn’t a commodity, but it’s treated as such. Companies should be able to build new housing (for sale) and own housing only for the purposes of, say, housing their employees if they so wish. I simply see no benefits to allowing companies trade living spaces like stocks.
Think about what the investment company’s tax rate would look like. They’d be bankrupt instantly. They’d have to pay 10M/year in taxes to maintain ownership of $10M in property.
That’s not how this works. A better solution would be to tax more aggressively second+ homes and severely limit what corporations can invest into.
Why should a company be able to profit off of second hand housing? This isn’t a commodity, but it’s treated as such. Companies should be able to build new housing (for sale) and own housing only for the purposes of, say, housing their employees if they so wish. I simply see no benefits to allowing companies trade living spaces like stocks.