alt Hacker News> Property taxes are the only thing that can redistribute wealth from landlords to the working people.
Eh? Working people always pay the property tax, landlords do not.
> Property taxes are the only thing that can redistribute wealth from landlords to the working people.
Eh? Working people always pay the property tax, landlords do not.
Landlords will just price rent at the maximum price the market can afford. Their costs are irrelevant.
Evidence: the free cash flow varies wildly per geography even in the same tax region.
Landlords will accept negative cash flow in expectation of property value increase.