Originally posted by Land Action | March 9, 2017
Paris has decided to tax speculators for hoarding vacant properties while refusing to rent them. Speculators now have to pay 60% of the fair market rent for each property they keep empty.
According to the US Census for Oakland, in 2014, 1 out of 20 houses was being held off market on purpose!!! There were 8,591 vacant housing units being held off market, not for sale and not for rent, 5.6% of the total housing inventory.
In this severe housing shortage, with thousands of Oaklanders houseless and on the brink of houselessness, Oakland should create a similar policy!!
to read the article on Paris: https://betterdwelling.com/vacant-homes-global-epidemic-paris-fighting-60-tax/
