Recently saw the house Taylor Swift grew up in. Amazing mansion that would cost $2M in Canada or the Netherlands.
But it sold in 2022 in the USA for $800K.
The higher interest rates and property taxes keep the price of US homes a bit more reasonable than in Canada or the Netherlands.
And (as I understand) those are deductible for the income tax in the US, so working people have a tax advantage that investors don’t have.
In any case, taxing property and lowering income tax seems like it would help working people afford homes relative to investors. It seems like a politically good move, too.
Recently saw the house Taylor Swift grew up in. Amazing mansion that would cost $2M in Canada or the Netherlands.
But it sold in 2022 in the USA for $800K.
The higher interest rates and property taxes keep the price of US homes a bit more reasonable than in Canada or the Netherlands.
And (as I understand) those are deductible for the income tax in the US, so working people have a tax advantage that investors don’t have.
In any case, taxing property and lowering income tax seems like it would help working people afford homes relative to investors. It seems like a politically good move, too.