Plus, the home you're buying is on land that's next to a bunch of utilities which are there because generations have worked towards them. Should you be able to hoard all of this (hospital, public transport, etc) just because you're "investing in housing" (which in most part is just sitting on empty houses to sell it to other people that need these utilities)?

This is why vacant home ownership should be taxed to oblivion: you're profiting off something that isn't yours. The only reason the home is appreciating is because the land you're on is gaining value because it's either:

- Most livable land

- Has utilities

- Has people living there that make the city attractive

And owning a home participate in none of this without taxes. Not only that, your incentives are aligned with preventing people from building more houses so yours appreciate, which is a net negative for the city.