You have really high property taxes, they cost as much as a rent in my country ( we have property taxes here, too, but not so high ) , it is impossible to rent something 1k/ month if fixed taxes are 400 or 800 / month. Your corporation have too much money to settle ( cause over evaluation of stocks ) and you goverment taxes too much houses ( cause corporations pay too low taxes ).
I’m in Florida and sales tax is high (not as high as most European VAT but high) and property tax high because they like to say “no state income tax” . Though if the house is your home, not an investment, it’s lower and the yearly increase capped at 3% no matter the value assessment . And yes we bought a house and about 1/3 of the monthly cost is taxes and property insurance. And yes - corporations here and the richest families pay not enough. But with property taxes at least corporations & landlords do pay higher rate than homeowners (that is a part of why rents have increased, the skyrocketing property values. But most of that increase is greed, profit). So if one actually can buy the apartment the property taxes will not be so bad over time, even if the value shoots up, and will come down if value drops.
It’s complicated but I think the main issues are greed and to some extent zoning & land use patterns - not so much inside the city - we have a good mix of houses, apartments, businesses, but so much land used for sprawling suburbs not more compact development, and that’s expensive in a lot of ways.
So with your rent you pay income taxes for the richest…
This is the reason in italy a lot of people oppose the transfer of taxation from income to property. If i gain a lot of money i will pay more taxes, but if i have a bad moment , i will be able to not sell my house or pay a rent. And my capital in real estate will be not slashed by taxes/expenses.
You have really high property taxes, they cost as much as a rent in my country ( we have property taxes here, too, but not so high ) , it is impossible to rent something 1k/ month if fixed taxes are 400 or 800 / month. Your corporation have too much money to settle ( cause over evaluation of stocks ) and you goverment taxes too much houses ( cause corporations pay too low taxes ).
I’m in Florida and sales tax is high (not as high as most European VAT but high) and property tax high because they like to say “no state income tax” . Though if the house is your home, not an investment, it’s lower and the yearly increase capped at 3% no matter the value assessment . And yes we bought a house and about 1/3 of the monthly cost is taxes and property insurance. And yes - corporations here and the richest families pay not enough. But with property taxes at least corporations & landlords do pay higher rate than homeowners (that is a part of why rents have increased, the skyrocketing property values. But most of that increase is greed, profit). So if one actually can buy the apartment the property taxes will not be so bad over time, even if the value shoots up, and will come down if value drops.
It’s complicated but I think the main issues are greed and to some extent zoning & land use patterns - not so much inside the city - we have a good mix of houses, apartments, businesses, but so much land used for sprawling suburbs not more compact development, and that’s expensive in a lot of ways.
So with your rent you pay income taxes for the richest…
This is the reason in italy a lot of people oppose the transfer of taxation from income to property. If i gain a lot of money i will pay more taxes, but if i have a bad moment , i will be able to not sell my house or pay a rent. And my capital in real estate will be not slashed by taxes/expenses.