100% of new single-family developments approaching the city over the last 2 years have been for build-to-rent exclusively. The existing SFR homes are being bought up at massively inflated prices to convert them into rentals.
The only reliable way to buy a home for your family to live in within 50 miles of the city is to buy empty land and have a custom million+ dollar house built, because the existing inventory is being grabbed up by rental investors and new inventory isn’t even being made available for sale.
If that is true then your area is very different than the rest of everywhere, because SFH are terrible investments. And taxing them is just going to make housing more expensive and fix nothing.
I work in municipal development.
100% of new single-family developments approaching the city over the last 2 years have been for build-to-rent exclusively. The existing SFR homes are being bought up at massively inflated prices to convert them into rentals.
The only reliable way to buy a home for your family to live in within 50 miles of the city is to buy empty land and have a custom million+ dollar house built, because the existing inventory is being grabbed up by rental investors and new inventory isn’t even being made available for sale.
If that is true then your area is very different than the rest of everywhere, because SFH are terrible investments. And taxing them is just going to make housing more expensive and fix nothing.