Comment by linkregister

While rent control and exclusionary zoning do have measurable negative impacts on building, a vacancy tax on second homes is unlikely to have side effects beyond raising revenue. If a price-sensitive owner of a pied-à-terre is forced to sell or rent out the unit, then the policy is successful: the residence will be occupied.

Ideally no second home tax would be implemented, and we could treat housing as an export. But due to intense local planning constraints, housing is scarce.