The banks will enjoy foreclosing on the owners who can't make the mortgage payments, and the government will enjoy stealing the property from those that can't pay the taxes.

Do it. It would make an interesting micro experiment for "everyone collectively refuses to pay income tax" etc. Amazing to think this country had a govt before income tax, death taxes, and the various other ways our dual citizen israeli senators shank us for shekels to send to Israel.

It's either idiot communists trying to make a mess, or a ruse by giant developers to trick a bunch of people in to suddenly owing massively accumulated deferrals— thus consolidating their power over rental markets as they evict each and every one of them. Those properties will get flipped in no time.