Im one of those 'greedy' old farts who owns more than one home. We have one for ourselves and 5 rentals.
Im starting to agree with those who are feeling priced out of the market. What would make me stop buying homes? A graduated tax would.
If there were no sales tax on the first two, and then 15% tax on the third, 25% tax on the 4th, and going up by 10% for each subsequent house, it would definitely make me quit buying likely by the 3rd or maybe the 4th house. Too expensive after that.
Then that money could go half to the gov, and half to subsidizing first time homeowners by giving them no interest loans for downpayments, or even grants if they qualify at a low enough income. I wouldnt object to that - real estate has been good to me, I think it would be fine if my taxes were helping others to start out.
If there were no sales tax on the first two, and then 15% tax on the third, 25% tax on the 4th, and going up by 10% for each subsequent house, it would definitely make me quit buying likely by the 3rd or maybe the 4th house. Too expensive after that.
Then that money could go half to the gov, and half to subsidizing first time homeowners by giving them no interest loans for downpayments, or even grants if they qualify at a low enough income. I wouldnt object to that - real estate has been good to me, I think it would be fine if my taxes were helping others to start out.