A Proposed Tax On Vacant Luxury Apartments In BostonPlay
The hot spring real estate market is officially in gear and a new proposal is calling for a closer look and different policies for the luxury end of the market. Luxury apartments in Boston could mean amenities such as private theaters, spas and golf simulation rooms — at an average cost per condominium of about $6 million.
In a recent Op-Ed for the Boston Globe, Chuck Collins, with the think tank the Institute for Policy Studies in Jamaica Plain, says most of these uber-luxurious residences aren't actually homes. He says they're merely "swanktuaries" that are nothing more than money storage units that help the very wealthy stay that way.
Chuck Collins, director at the Institute for Policy Studies in Jamaica Plain. He tweets @Chuck99to1.
Evan Horowitz, quick study columnist for the Boston Globe. He tweets @GlobeHorowitz.
This segment aired on April 24, 2018.