Wouldn't the obvious fix be elimination of 1031b exchange, capital gains on all house appreciation, and only allowing 1 active federally backed mortgage at a time (with some consideration for allowing a purchase of a new place & selling the old place).
The land appreciates without development on it. If anything, we want only appreciation from developing. If you don't do something to the property, you shouldn't get a profit from it
I think that’s what they where suggesting, however that’s really expensive and hard to implement. If you simply calculate based on the value of the land then a 200 year old house counts as “new” development etc.
Worse it doesn’t actually help. The incentives are there to develop land it’s only local zoning that prevents it.
