cross-posted from: https://lemmy.crimedad.work/post/12162
Why? Because apparently they need some more incentive to keep units occupied. Also, even though a property might be vacant, there’s still imputed rental income there. Its owner is just receiving it in the form of enjoying the unit for himself instead of receiving an actual rent check from a tenant. That imputed rent ought to be taxed like any other income.
When what you’re selling is a limited resource necessary for survival, “what the market will bear” easily becomes “all the money you make”. Otherwise you end up homeless and won’t be making any money.