[R0b0t1]

Home prices are up because there is no supply. There's no supply because people can't afford to build houses. The issue isn't home ownership, it's the lack of it.

An LVT might work but I think it is only ethical if you advantage primary residences with a complete lack of tax.

[simonh]

It can’t simultaneously be true that people are paying huge sums fir houses, driving prices up, and they can’t afford to build new houses. New construction is generally much cheaper than buying an existing house. The lack of new house building is reluctance to grant planning permission due to NIMBYism.

One of the points of an LVT, among other things, is to encourage little old ladies living in 4 bedroom houses to move somewhere smaller. It’s actually a very equitable tax that reduces distortions in markets and reduces inequality. I highly encourage you to read up on it.

https://en.wikipedia.org/wiki/Land_value_tax

[R0b0t1]

People aren't paying huge sums for houses or paying for new construction, property developers are.