Why?

Presumably you mean desirable land is scarce, which is true by definition, but land in the US is far from scarce.

Put a few mile ring around any city center and yes the land there is scarce. You would not want one or a small number of individuals buying up all or a lot of that land because other people want to live there too. Therefore do exponential taxation based on land they already own. Why is this confusing to you?

For one, you're solving a non-problem in the US and creating new problems.

Why do you think people are hoarding land today that could be used for housing developments and leaving it empty?

What is "too much" land that would subject it to your exponential taxation?

There are a large number of properties in big cities sitting empty due to people hoarding land/houses. Too much is anything more than your primary residence. It should be taxed exponentially with both number of secondary residences and size normalized to urban development around the property.

Cities in vacation spots have vacant homes, but most "big cities" do not, and vacation homes are not an example of hoarding.

In short, you're just making things up. I'm glad you aren't in charge, though there are a concerning number of people with your mindset.

Vacation homes are an example of hoarding and should be taxed exponentially. Barcelona, for example, has already banned short term rentals starting 2029, and so has my home town, so there are at least some people in power who think like me, and I hope there will be many many more people with my mindset.

I mean, you can call it hoarding if you like, but that's not a very widely held opinion.

Spain is one of the last places on Earth I'd look to for economic policies. Enjoy your even higher unemployment and additional dying towns after attacking your only notable industry (tourism) I suppose.

There's plenty of housing available in places with no jobs, so mission accomplished in one sense!

Hoarding of housing affects normal people’s lives worse than some economic theory that’s we can see failing in real time. People’s lives are more important than theoretical economic prosperity.

By your personal definition of hoarding maybe.

Enjoy all the housing you could ever want when your town has even less economic activity than it did before!