LogFAQs > #938364238

Yeah, that's why (well, one of several reasons why) I don't think national UBI should even try to price match the insane property markets in some areas.

The states let this happen. The state love raking in those big property tax hauls, which the federal government doesn't get a penny of. Let them deal with the mess of their own creation.

As far as policies, I'd suggest less obtrusive ones that might actually attract bipartisan support. For one thing, foreign ownership of property should be MASSIVELY taxed...Chinese buy up a lot of property along the coasts b/c they don't trust their own currency and their own property is shit that won't last, so they treat U.S., UK, etc... real estate as their form of "banking their money".
Another should be that housing isn't subject to property tax up to a certain limit, then it is subjected heavily. And that only applies to someone's primary residence. If they buy up multiple homes, they're hit with the hefty tax burden on the full amount. It's fucking bs that even as the boomers retire and downsize out of their homes, the prices never go down b/c a bunch of people who use real estate purely for making money and not...to get a place to live....buy up the property.