Aunche parent
A vacancy tax would work on areas with high demand, but it also punishes areas that are already struggling.
Why is that? It would devalue property but renters want that. It would only hurt the rent seekers and speculators, no?
Imagine a half empty mall where there simply isn't enough demand for any more stores. If you add a vacancy tax that bankrupts the mall owners, then the mall shuts down and the renters lose out as well.