No. of Recommendations: 1
"The measures, announced Thursday, include higher seller stamp duty rates for residential properties, while the holding period which would result in a seller's stamp duty was extended from three to four years.
The measures target at non-genuine home-buyers or speculators, a trend that has gained momentum over past few years and could accelerate as mortgage rates fall."
In America, a residency requirement would help the affordable housing shortage. In my area,
houses are bought in order to be placed in the VRBO pool, which shrinks the # of units
available for people who actually live here. Seems like it would be pretty easy to enact
some type of requirement of residency, to tamp down the investors who gobble up the potential
family homes. But, I know I know, this is 'Murica, don't try telling me what to do, lol.
My home has probably went up in "value" 250% since I bought it a decade+ or so ago. And of
course, property taxes and home insurance, as well as home improvement materials have
also risen up in price. I'd rather see home prices stay lower, and stable, but I don't
control it, so I'm glad I bought during or right after the GFC. I have no idea how
a blue collar paycheck, even 2 of them, can afford to buy a house at these price levels. And
while this is an expensive area in comparison to the rest of the State ( not THE most expensive)it is nothing like some of the truly high priced expensive areas of the Country. So lucky for me that the area is really nice, as the expensive areas of the Country are totally out of financial reach.
