Why Pittsburgh real estate never crashes: the tax reform that stabilised a city’s economy
Jun 02, 2011
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In this week’s chapter from Fleeing Vesuvius, Dan Sullivan describes how Pittsburgh and Cleveland have adopted diametrically opposed strategies, with dramatically different results. In Pittsburgh, foreclosure rates are low despite the downturn, home prices are climbing slightly and construction rates are increasing. Cleveland, meanwhile, is struggling to stem a complete collapse of its housing market. The difference lies in the fact that Pittsburgh has had a site-value tax, which steadies the market, and Cleveland has not.
Related posts:
- Environmental Tax Reform Conference Videos
- Stakeholder Conference – Environmental Tax Reform
- Report: Implementation of Site Value Tax in Ireland
- Dan Sullivan – Capturing the value of the commons: Land Value Tax as a community development tool
- Business problems, land solutions: the case for land and tax reform
