> But you bought a house in 1992 and then shouted down all new development for the last 30 years and now can sell it for €1.5 million more than you paid? Why, that's your HOME you can't tax HOMES can you??
The other side is this helps people move. When a parents kids move out of home you dont want them holding onto big homes just because theyd take a major financial hit by moving, even if their current home doesnt suit their lifestyle.
Incentivising ownership through reducing capital gains for owners also encourages a society where people own their home which hugely softens the issues of retirement and pensions as well as greatly adding to peoples psychological sense of security.
Increasing annual land taxes is a better solution imo, especially in more desirable locations (they should stay low in poorer areas).
> The other side is this helps people move. When a parents kids move out of home you dont want them holding onto big homes just because theyd take a major financial hit by moving, even if their current home doesnt suit their lifestyle.
I don't think this really matters unless a lot of people are upside down on their homes.
We could probably target a 2% annual housing price decline (until builders stopped building) and still be fine in that regard.
Everyone is upside down on a home in at least the first five years. In a world with job instability and lack of remote options, I can see their argument as valid.
The other side is this helps people move. When a parents kids move out of home you dont want them holding onto big homes just because theyd take a major financial hit by moving, even if their current home doesnt suit their lifestyle.
Incentivising ownership through reducing capital gains for owners also encourages a society where people own their home which hugely softens the issues of retirement and pensions as well as greatly adding to peoples psychological sense of security.
Increasing annual land taxes is a better solution imo, especially in more desirable locations (they should stay low in poorer areas).