High land prices make housing unaffordable. They aren’t making any more land. There is a solution, though. Shift the taxes away from other things onto land. Everyone will get a tax cut except landowners, who will see the value of their land plummet, as they effectively become renters of the land because the tax on land rises to a level similiar to what renting the land would cost. You have effectively made all land cheap to buy, but with the revenues you collect, you can subsidize peoples’ housing costs. The more expensive land is in an area, the more money will be available to provide everyone with a subsidy to afford apartment/house rent. You could even do a kind of local Universal Basic Income with the money.
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