In the U.K. there is no tax related to house prices, just relative prices. If prices double from 250k to 500k government doesn’t get any more money.
The fault is entirely with those who don’t want more housing built. The government can use this as a wedge issue and blame immigrants (the ones who work and pay taxes) rather than the wealthy retirees
I don’t think we disagree. The details do vary from place to place, but I think the overall dynamics remain. The established lot has grown accustomed to feeding on ongoing price increases in an unsustainable manner. Any changes that would make housing more affordable would disrupt their financial expectations in ways that are unthinkable to them, so they’re trying to squeeze every other option available.
