Quote:
Originally Posted by Hmoob
It'll be interesting to see how the market plays out as oversaturation approaches. While the empty homes tax and speculation tax were intended to increase the housing supply, they'll discourage residential development if vacancy rates go too high.
Long term, these taxes as implemented will act primarily to limit expansion of our housing stock, limiting overbuilding and any associated price crashes.
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I think your talking about the wrong city. When your vacancies are under 2% and the amount of empty homes is minimal the vacancies will not significantly increase if we fill those empty homes. We are underbuilding currently, we're no where near causing a price crash from overbuilding.