[clintonwoo]

I agree with this article, housing shouldn't be an "investment" but rather a place to live and have a good life.

By taxing it, it provides disincentive for people to use it as an income generating or speculative asset.

We shouldn't view housing as a way to "get rich" but housing actually provides much better utility if it's price is stable and not prone to boom bust cycles. Since more people would be able to buy at any given time for their budget if prices stay low.