Graphic by Madalyn Godfrey
Both Democrats and Republicans claim to have solutions to the housing crisis—but neither is willing to confront the elephant in the room: our broken system of land ownership.
BY GAVIN MIDDLETON, OPINION SUBMISSION
Housing disparities will only worsen unless we stop taxing individuals and start taxing land. The Republican and Democratic parties rely on outdated ideas that homeownership is generally feasible or that nativism would solve supply constraints. These beliefs fail to address the root problems contributing to the property affordability gap: land speculation and monopolization.
Land value taxation (LVT) is a viable option to unlock housing affordability and economic fairness, which neither Donald Trump nor Kamala Harris fully comprehends.
Harris’ proposal to build 3 million homes neglects a critical issue: land speculation.
While increasing housing supply can lower prices, the U.S. already has a 10.4% home vacancy rate, with 15.1 million vacant homes as land speculation investments—proof her plan ignores the real issue.
The tax credit premise has merit but land-related issues, such as high rent, loans and house costs, restrict young people from becoming homeowners. External factors, such as student loan debt, further complicate this problem.
The issue with rent limitations is that they do not address the already high prices across the market. According to the U.S. Department of Treasury, since 2000, median rent has risen more than 20% and 30% of median income is required to pay the average rent. A complete approach targeting housing and rent is required. Not superficial or temporary measures. Democrats aren’t the only ones ignoring the land issue.
On the other side, Republicans are equally out of touch with the core issue; Trump has no real strategy to address the housing crisis. He believes he can increase purchases by lowering the interest rates and immigration control. Immigration is a time-tested scapegoat for Trump’s administration and fails to address the supply issue.
Opening up federal lands for development misses the crux of the problem: the concentrated ownership of valuable urban land and speculative practices that inflate prices.
A Georgist solution, such as LVT, would directly tackle these issues by making land more available and ensuring its productive use.
Both candidates overlook that housing affordability is not just about supply and demand—it’s about land. In urban areas, land value is inflated by speculation and monopolization.
In 1879, economist Henry George proposed the LVT, a progressive tax on the unimproved value of land, considering only its location, not any structures on it. LVT discourages land hoarding, promotes urban development and consolidates urban spaces. It’s an efficient tax that doesn’t penalize workers or investors but curbs rent-seeking and accumulating wealth without contributing to productivity or benefiting society.
But does it work?
LVT isn’t theoretical. With Georgism-inspired policies, Singapore and Taiwan optimized land use curbed speculation and boosted economic growth and affordable housing. In Singapore, nearly 80% of the population benefits from accessible public housing, reducing homelessness significantly.
Beyond land reform, Georgism’s potential includes funding Universal Basic Income (UBI) through land taxes, which could reduce burdens on homebuyers, boost productivity and unlock millions of underutilized acres for a more affordable future.
It’s time our candidates stopped ignoring the root causes of the housing crisis. Instead of temporary fixes and political distractions, we need a bold solution that addresses land monopoly.
George offers a clear, actionable path forward. Write to your member of Congress: “If we want a genuinely affordable housing market, it’s time to tax land, not people.”
