We could require more disclosures and auditing and regulations of those workarounds. It's not some digital thing that could be hidden anywhere, it's trivially easy to monitor or seize real property.
> it's trivially easy to monitor or seize real property
Anyone who owns property should be horrified at the notion of making it “trivially easy” to seize real property. That turns this into electoral toast. Its only utility is in distracting from zoning reform.
Also, the homeownership rate is 65% [1]. Second homeowners aren’t the problem.
Trivially easy refers to the physical act: show up with force. Not that it should be any more "trivially easy" to crack down on than, say, tax evasion - that is, you'd still have courts, etc. But don't act horrified at that. Eminent domain has been used many times in the US, it's not a novel concept. Foreclosure is also state-sanctioned and common.
But there are SIGNIFICANT interests who want to horde real property anonymously. "Fixing zoning" is not a solution to the problems that causes. The large-landlord/acquire-and-leave-vacant-waiting-for-appreciation interests are the very same interests that would BENEFIT from less zoning restrictions and the Manhattanization of more places, and corresponding increase in real property values per sqft of land. But the reason we don't make ownership of property more clear, or crack down on hording, is because those interests don't want us to.
"Simpler: a straight wealth tax that funds first time homebuyer incentives." - so we've got more inflation of property prices through financial incentives but actually let's not bother because guess who ALSO doesn't want a "straight wealth tax!" (And, of course, taxes aren't wildly worked around in this country anyway.)
> (Also, homeownership is 65% [1]. Second homeowners aren’t the problem.)
Is there a breakdown on what portion of this 65% own multiple homes? Personally, I’m not a fan of anyone who has more than 2 homes. One primary and one vacation or rental. Why does anyone need more than that?
Some people are professional small landlords. It’s an incredibly valuable service for people who don’t want the headache of home maintenance, and there are very significant economies of scale - 1 unit is generally not worth doing unless you really enjoy diy.
We could require more disclosures and auditing and regulations of those workarounds. It's not some digital thing that could be hidden anywhere, it's trivially easy to monitor or seize real property.