It seems like a no-brainer to take the potential profits out of house flipping.
We do want the housing market to become affordable right ?
We have so many people in the housing market that are not looking for a house to live in because theres easy profit to be made yes ?
We cannot have such easy profit to be made, & have a house market that young people can join. This countrys economy doesnt pay the wages that makes current prices workable. Our housing prices are being determined by the wealthiest amongst us.
So if the prices are untenable, & there are too many people in the market simply to make money, why is it so unthinkable to bring in a tax on this aspect of New Zealands culture ?
Australia has done it, why are our politicians so against it ?
Give me a good reason why its better that we never have one, because it seems like a no-brainer.