Now the SF commies tax you if you don't rent out property you own
(www.sfchronicle.com)
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No, it won't. The way you reduce rent prices is deporting all non-whites and banning immigration. All this will do is encourage non-whites to rent to their family members on paper without even occupying the place while white people actually follow the rule and therefore sell their property to foreigners who don't follow the rules.
Ignoring the race bait, reducing population would indeed reduce demand, and therefore rent prices, but there's another factor at play: The landlords cannot reduce rent because the value of their property would fall, and the loss would be worse than the cost of maintaining a vacant apartment. This is why rents don't go down, even after the mass exodus from the big cities.
By taxing vacancies, the loss can now be worse when the property is vacant, so landlords are actually incentivised to adjust rent until their property is occupied. This could induce a small housing crash, but homes renting at their actual value will make the city more inviting for non drug-addicts and non thieves to move in.
Although, that works in theory, like I said people will scam the system. In any case, the state stealing your private property is not the solution to any problem, ever.