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8 months agoWhen I looked it said 13.9 million. But how many of those are habitable? Does that number include Airbnbs? Properties stuck in probate or the foreclosure process? How many of them are in senior communities that don’t allow younger people or families? The census data doesn’t specify any of that.
If they are renting it out at exorbitant prices, then it’s not empty. If it’s empty, then they get zero money. You’re saying it’s both, which makes no sense. Interest rates and property taxes are both high right now. It costs investors money to hold empty property without renting it out. They don’t have to wait for people to pay inflated prices. The demand is already there.
I’m all for more regulation, especially for developers and investors. Stiupulate that at least 50% of all new housing built be affordable. Give incentives to rehab old condemned properties. And stop letting AI algorithms determine rental prices.