City Council is considering a plan to make housing more affordable by making it more expensive to buy a house.
You don’t have to be a real estate agent to think that odd, but one slipped a flyer through my mail slot decrying this proposed increase in the realty transfer tax from 4 to 5 percent.
That would raise $9 million a year, proponents say, to create an affordable housing trust fund. They want it because the city is short about 17,000 homes affordable enough for the working poor, those who earn too much to qualify for subsidy but too little to buy a home. There are more than 700 similar funds across the country.