I'm not sure it's that clear, and the taxes might not be the point. If this halts construction of second homes in the higher price ranges, then those construction crews will still need to do something. So, that might make it possible to find construction capacity for higher-density construction that otherwise wasn't available. Whether or not such a trickle-down effect will happen isn't guaranteed, but it's possible. It's also possible that no construction happens and we see a loss of jobs in the process.

It's a complex market and this is definitely a risk.