No it has not been explained. Only by accepting wildly unrealistic assumptions can this issue be dodged. There is no easy adjustment of wages and prices which MUST happen in order for equilibrium to be re-established. Even in the days of Classical Economics such adjustments were not as painless and easy as are expected under the FT.
And that does not even get into the nightmare raised by having no tax on existing homes and full tax on new homes. Anyone who tries to tell me that such a scheme will not collapse the home construction industry has no credibility since this would be the obvious result. While this would benefit current owners of homes such as myself it is not worth the destruction caused just to benefit me.
Existing home prices already include taxes and tax costs of a nearly equivalent amount.