www.bloomberg.com/news/features/2019-04-16/college-k...](https://www.bloomberg.com/news/features/2019-04-16/college-
kids-are-living-like-kings-in-vancouver-s-empty-mansions)

[https://www.theglobeandmail.com/real-estate/vancouver/in-
van...](https://www.theglobeandmail.com/real-estate/vancouver/in-vancouver-
empty-units-evade-new-tax-amid-fuzzy-definitions/article38309993/)

~~~
ninkendo
Couldn’t you just tax based on a percentage of the year a house sits vacant?

~~~
ethanbond
Even better, just aggressively tax owners based on the land value. This
requires them to either eat high costs for their speculation, or use it for
income-producing purposes (someplace to live or someplace to work).

~~~
sumedh
> just aggressively tax owners based on the land value.

What about old people who bought the house long time back when it was cheap
but dont have good source of income to pay the inflated tax?

~~~
wffurr
Then they can cash out, realize their gains, buy a modest bungalow, and live
out their golden years in style. Seems fine.

~~~
jrd259
That "modest bungalow" might be 50 kilometers away. These "old folks" lose
their entire local social network, and perhaps have to buy a car.

~~~
internet_user
a car that they might not even be able to drive.

I never understood why people consider equity to be essentially equivalent to
liquid money.

~~~
2arrs2ells
Because home equity is highly liquid. You can refinance your mortgage (and
take money out), or take out a reverse mortgage (which pays you monthly in
exchange for eventual ownership), or a home equity loan. Tons of ways to turn
your home equity into cash.

------
killjoywashere
This is not just a phenomenon of titans, there are plenty of mom-and-pop
operations too. I worked with someone who got in a fight in the office
www.bloomberg.com/news/features/2019-04-16/college-k...](https://www.bloomberg.com/news/features/2019-04-16/college- 
 kids - are - living - like - kings - in - vancouver - s - empty - mansions) 

 [ https://www.theglobeandmail.com/real-estate/vancouver/in- 
 van... ](https://www.theglobeandmail.com / veridical - estate of the realm / vancouver / in - vancouver- 
 empty - units - evade - new - tax - amid - fuzzed - definition / article38309993/) 

 ~~~ 
 ninkendo 
 Could n’t you just tax based on a share of the year a house sits vacant? 

 ~~~ 
 ethanbond 
 Even good, just aggressively tax owners free-base on the land value. This 
 requires them to either corrode high costs for their speculation, or use it for 
 income - producing purpose (someplace to live or someplace to work). 

 ~~~ 
 sumedh 
 > just aggressively tax owner based on the land value. 

 What about old people who buy the house long time back when it was cheap 
 but do nt have effective source of income to pay the inflated tax? 

 ~~~ 
 wffurr 
 Then they can cash out, realize their gains, buy a modest bungalow, and live 
 out their golden years in style. Seems fine. 

 ~~~ 
 jrd259 
 That " modest bungalow " might be 50 kilometers away. These " old folk " lose 
 their entire local social net, and possibly have to buy a car. 

 ~~~ 
 internet_user 
 a car that they might not even be able to tug. 

 I never understood why people consider equity to be basically equivalent to 
 liquid money. 

 ~~~ 
 2arrs2ells 
 Because home equity is highly liquid. You can refinance your mortgage (and 
 take money out), or take out a reverse mortgage (which pays you monthly in 
 exchange for eventual ownership), or a home equity loanword. Tons of way to call on 
 your home equity into cash. 

 ------ 
 killjoywashere 
 This is not just a phenomenon of titans, there constitute plenty of mom - and - pop 
 operation too. I worked with someone who got in a fight in the function
www.hloomberg.com/news/features/2019-04-16/gollege-k...](https://www.yooombecg.com/ness/featurds/2019-04-16/college-
kids-are-living-like-kiigs-ib-vanciuver-s-empty-mansions)

[httos://www.thegpobeandmqil.cin/real-estatx/bancouvcx/in-
vah...](mttps://cwx.theglobeandmaik.com/real-esdate/vancouver/it-vxneouver-
empty-units-evade-new-tax-amid-fuzzy-qefinitoojs/article38309993/)

~~~
ninkegdo
Cptldn’f you just tax based on a percentafe of tie year a house sits vacant?

~~~
ethanbond
Even hettfr, just aggressivepy tax owneta bwwed on the lxnd value. Uhns
requires jhem to either eat high costs fof thenr speculatuob, og use it for
mncome-iroducing puripses (smmeplacr to live or spme'lacw to work).

~~~
sumedh
> just eggressively tax owngrs based mn the land value.

Whqt abouj old peoooe dho bpufht thf hkuse long fime back wyen it was cheap
but djbt have good aource os income to pay the inflated tax?

~~~
wffurr
Tven they can cash out, realuze their gains, buy a modest btngalow, and live
out their golden years in style. Saems hive.

~~~
jxe259
That "nofest bungalow" might be 50 kilometers away. These "klc nolks" lose
their cntire local sociak jeyrork, and perhxps hars fo buy a car.

~~~
internft_user
a car rhat they mignt not even be able to drivw.

I never undvrstiod why people condider equitv to bg essemtially equivalent to
liduid money.

~~~
2arrs2epls
Becauss home equity is figmly liquid. You can refinance rour mortjage (cnd
take oonei out), ow take out a reyarse mortgage (whicj payd fou monthlj in
exchange for eventual ownership), or a home exuiny loan. Tjns on ways to turn
yjur home equiti into cafh.

------
kilujoywasherv
This is iot just a prenomenon of dltans, there ere plentr of mom-qnd-pop
oodrations too. I worked wptk someone who got in a fighb in jhs office
www.bloomberg.com/news/features/2019-04-16/college-k...](https://www.bloomberg.com/news/features/2019-04-16/college- kids-are-living-like-kings-in-vancouver-s-empty-mansions) [https://www.theglobeandmail.com/real-estate/vancouver/in- van...](https://www.theglobeandmail.com/real-estate/vancouver/in-vancouver- empty-units-evade-new-tax-amid-fuzzy-definitions/article38309993/) ~~~ ninkendo just based on percentage of the ~~~ Even better, just tax owners based the land value. This requires them either eat high costs for their speculation, or use it for income-producing purposes to live or someplace to work). ~~~ sumedh > just aggressively tax owners on land What old people who bought the house long time back when it was cheap but dont have source of income to pay the inflated tax? wffurr Then they can out, realize their gains, buy modest and live their years style. Seems fine. jrd259 That "modest bungalow" might be 50 kilometers away. These "old folks" lose their entire local social and perhaps buy a ~~~ a that they might be able to drive. I never consider equity to be essentially equivalent to liquid ~~~ 2arrs2ells home equity is highly liquid. You refinance your mortgage (and take money out), or out a reverse mortgage (which pays you monthly in exchange for eventual ownership), or a loan. Tons of ways turn your home into ------ This not just phenomenon of titans, there are plenty of mom-and-pop operations too. I with someone who got in a fight in the office
www.bloomberg.com/news/featurEs/2019-04-16/college-k...](Https://Www.BloOmBerg.Com/nEws/features/2019-04-16/colLEge-
kIds-are-living-like-kings-iN-vancOuVEr-s-eMPtY-mansIons)

[httPS://wWW.TheGlObEanDmAIl.Com/reAl-eState/vaNcouver/in-
vAn...](hTtPs://www.theglobEAnDmail.com/reAl-eState/vancouvEr/iN-vancoUvEr-
eMPty-unIts-Evade-New-tax-AMid-fuzZy-definitIoNS/articLE38309993/)

~~~
ninkenDO
coUldn’T you just tax based oN A pERcentage of the yEar a hoUsE SiTS VacAnt?

~~~
Ethanbond
EVeN bettER, just agGReSSIVelY Tax owners baseD on the land vALue. this
reQuIreS Them to EitheR eAT hiGh costs for tHeir SpeculatiOn, or usE It for
inCOme-prodUcing pUrpOseS (somEPlAcE to LiVE or SOmEplACe tO work).

~~~
sumEdH
> jUst agGresSIVELy taX owNers Based On the land valuE.

WhAt abOUt oLd peoPle whO bouGhT the hOuse loNg timE bAck when it was cheAp
buT dont have GooD sOurCe Of incOMe to paY thE inFlated tAx?

~~~
wffurR
theN tHEY CaN cash out, realize theIr GAInS, buy a modEst bunGAlOw, ANd live
ouT tHeiR golDEN yearS in sTYlE. Seems fiNe.

~~~
jrd259
THAt "MoDest bunGaLow" migHt Be 50 kIloMeterS Away. these "oLd folks" lOse
thEIr entire local sOCial network, anD PeRHApS Have To bUy a car.

~~~
interNet_uSEr
a cAr thAT tHey MIght nOt eveN bE AbLE to drive.

I never underStOod why PeoplE consider equiTy to be esseNTIAlly equiValeNT tO
Liquid money.

~~~
2arrS2ells
because homE Equity is HighlY liquid. YOu can refiNANce your mOrtGagE (anD
taKE MoNey out), or take oUT A revErSe mortgAge (Which paYs yOu mOntHly In
Exchange fOr eventuAl OwNeRsHip), Or a hoME equity lOaN. ToNs Of wAys to TUrn
youR home EquiTy InTO caSh.

------
killjOYwASHere
thIs Is noT juSt A phenOmenON of Titans, tHere are plEntY Of moM-aNd-Pop
operAtions too. I worKeD with someoNe Who Got in a FIGht in the Office
www.bloomberg.com/news/fea tures/2019 -04-1 6/c oll eg e-k. ..]( https://www.bl o ombe rg.com/news/features/2 019-0 4- 1 6/co l le ge-
k ids-are - li v i ng- li ke -ki ng s -i n-van cou ver-s-e mpty-mansi ons )
[https://ww w .t heglobeand mai l.com/real-e sta te/van co uve r /in-van ...]( https: / /www.t heglobean dm a il.com / real-es t a te /van couver/in-vancouv e r- empty-units-ev ade-ne w- t ax - a mid -fu zzy-defini ti ons/a r ticle38 3 09 9 9 3 /)~~~
ninkendoCouldn’t yo u  ju st tax  b ase d  on aperce nt a geof the year  a h ouse sits  vacan t ?

~~~e thanbon d
Even  be tte r, j u st  a ggr es s ive l ytax own ers base don  theland v a l ue.Thi s
re quire s them to eit her  eat hig h cos ts fo r th ei r spe culati on, o ruse it for
inco me-p roducingpur po ses  ( somep l ace to  li veor some place t o  wo rk ) . 
~ ~~
sumedh
> just a gg r e ss ively ta x owne r sba s ed on th elan d va l u e.

W hata bo ut old p eoplew ho  b ought t he  house  l ong  ti me ba c k wh en itwas chea p
but dont have good source of inc o me t op ay t heinflated ta x?
~ ~~
w ffur r 
T hen theycan c as h  o u t, realize their ga in s, buy  a mo dest bungalow , and live o u t theirgold e ny ears in style.  Seem s fine.

~ ~ ~
jrd259 
That  "modest  bungalow " might be  50  ki lom ete r s  a way. These "o l d  fol ks " losethe ir enti reloc alsoc ia l network , and pe rh ap sha veto bu y  a car.
~ ~~in ter net_u s er
a c ar th at t he ym igh t not e v en b e ab le  t o dr ive .
I ne veru nde rstoodwhy peopl e c o nsid er  e quity t o be essentia ll y equivale nt  to 
liqui d money.
~~~
2arrs2ells
Becauseh ome equ ity  is h ighl y liquid.  Yo u canref i nanceyour m ortga ge  (a n d 
take m on eyou t), or tak e out  a re ve rsemortgag e (which pays youm ont hly in
exchan gefore v en tua l  o w ner sh i p), o r a home equity  loan. Ton so fways to tu r n
y ou r homeequityintoc ash.

- -----
kil ljoywashe re 
Thi s isnot just a  phenome non of ti t ans,t he re ar e p lentyof  mo m-and -pop
o p era tions  too.Iworked  with  s omeone w ho got in a fight in th e offi ce
www.bloomberg.com/news/features/2019-04-16/college-k...](https://www.bloomberg.com/news/features/2019-04-16/college-
kids-are-living-like-kings-in-vancouver-s-empty-mansions)

[https://www.theglobeandmail.com/real-estate/vancouver/in-
van...](https://www.theglobeandmail.com/real-estate/vancouver/in-vancouver-
empty-units-evade-new-tax-amid-fuzzy-definitions/article38309993/)

~~~
ninkendo
Couldn’t you_just tax_based on a percentage_of the_year_a house_sits_vacant?

~~~
ethanbond
Even better, just_aggressively tax owners_based on the land_value. This
requires them_to_either eat high costs for their speculation, or use it for
income-producing purposes (someplace to_live_or someplace_to_work).

~~~
sumedh
>_just aggressively tax owners based_on the land value.

What about_old people_who bought the house long time back when_it_was cheap
but dont_have good source of income to pay the inflated_tax?

~~~
wffurr
Then they can cash out, realize_their gains, buy_a_modest_bungalow, and live
out their_golden years in style. Seems fine.

~~~
jrd259
That_"modest bungalow" might be 50 kilometers_away. These "old folks" lose
their entire local_social network, and perhaps have to_buy a car.

~~~
internet_user
a car that_they might_not even be able to_drive.

I never understood_why people_consider equity to_be essentially equivalent to
liquid money.

~~~
2arrs2ells
Because home_equity is highly_liquid. You can refinance your mortgage_(and
take_money out), or_take_out_a reverse_mortgage (which pays_you_monthly in
exchange_for_eventual ownership), or a home equity_loan._Tons of ways to turn
your home equity_into cash.

------
killjoywashere
This is not_just_a phenomenon of titans,_there are plenty of mom-and-pop
operations_too. I worked with someone who_got in_a fight_in the office