Georgists generally don't question whether property managers, developers, or others involved in real estate earn at least part of what they get to keep. Someone who fixes a place up before flipping adds value to the improvements. Similarly, someone who rents out a property (and isn't just a slumlord) adds value by being attentive, actively managing the property, and maintaining it.
The whole concept of home ownership as “wealth building” instead of just having a place to live, is a house of cards propped up by mortgage guarantees and restrictive zoning. Somebody really smart needs to devise a palatable political path to reform land and housing markets. LVT would be a big part of that, but the key is a transition that won’t leave a lot of people feeling screwed.
Shout out to @FRESHECONOMICTHINKING for publishing this relevant article a few short days ago:
https://www.fresheconomicthinking.com/p/why-is-land-lease-housing-booming
The whole concept of home ownership as “wealth building” instead of just having a place to live, is a house of cards propped up by mortgage guarantees and restrictive zoning. Somebody really smart needs to devise a palatable political path to reform land and housing markets. LVT would be a big part of that, but the key is a transition that won’t leave a lot of people feeling screwed.
If the house buyer understood that land often appreciate and improvements always depreciate, then I doubt the contract would be so one-sided.