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fru-gal

Higher Property Taxes Will Cool The Housing Market

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The weird thing is, any and every economist must know this. It is one of the basic outcomes of supply and demand, the first thing you learn in economics. If you tax an illiquid asset, the price falls correspondingly. If you subsidise it the price rises. I can understand why politicians like doing the opposite, but why aren't all the commentators and academics screaming to stop?

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The weird thing is, any and every economist must know this. It is one of the basic outcomes of supply and demand, the first thing you learn in economics. If you tax an illiquid asset, the price falls correspondingly. If you subsidise it the price rises. I can understand why politicians like doing the opposite, but why aren't all the commentators and academics screaming to stop?

Because they are all in the "in-crowd" benefiting from it. Turkeys don't vote for Christmas.

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It's the public sector way...take what is not yours and spend it on your selves.

The only thing they need to cool the housing market is stop the government funding the banks and introduce full regulation before the next collapse.

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