Finally! Washington State Solves the Housing Supply Crisis

Politics
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See?
Despite what you have heard, people are not trapped in their low-rate mortgages.

Raise their taxes, and they’ll move. Problem solved.

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*Washington saw a sharp 65% jump in $2M-plus home listings the day after lawmakers passed a new income tax on millionaires. Realtors suggest some owners listed in response, while economists caution against reading too much into single-day data. . . . *

Data from the Northwest Multiple Listing Service shows a 65% rise in Washington homes priced at $2 million or more the day after the state legislature approved an income tax on millionaires. . . .

LINK:

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Boy economically speaking that’s a 1976 Soviet level of stupidity. What did they expect?

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They sure showed those rich folks what for. :rofl:

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While this is bonkers homes that were already 2m dollars aren’t part of this issue

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Well, it’s a pretty strong indicator that wealthy people are gonna list their homes for sale and leave the state.

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Of course it is. That why rich people all now live in Texas and Florida.

They don’t live in California or New York or any other state with high taxes. They have all left.

So let’s ask the question … in what state has that proven to be true?

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I don’t understand your question.

  • Are you asserting that there are zero millionaires left in NY and Cali?

  • Are you asserting that if there are any left then you are right and I am wrong?

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“will list their homes for sale and leave the state”.

In what numbers?

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Well. This is what the nitwits voted for. So good for them!
:grin:

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In numbers 65% higher than last year.

Either the population of growing 65% y-o-Y or this is an indicator the rich are leaving.

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Oh my gosh. I thought it said 65 percent jump in sale price due to a new tax :joy: go me

Regardless it’s a one day data point. Let’s see if it shows a long term rise in them.

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The name of the tax should change to L’il Pig Who Builds Their House of Bricks tax so that the l’il piggies that built theirs’ of straw get free stuff.