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I'm inclined to believe many are empty investment properties. A documentary about the housing costs showed a Chinese investment tour of Cupertino for such purpo
by windlep 10y ago
I'm inclined to believe many are empty investment properties. A documentary about the housing costs showed a Chinese investment tour of Cupertino for such purpose:
https://youtu.be/SBjXUBMkkE8?t=2m35s https://youtu.be/SBjXUBMkkE8?t=2m35s
The other issue is that the high school I went to there, Monta Vista High School, is extremely well-ranked. As such some investors buy houses, then rent them to a single custodian who boards as many students as possible so they can attend the schools. These custodians don't seem to have a high priority on keeping the house in great shape.
- ethbro 10y ago> As such some investors buy houses, then rent them to a single custodian who boards as many students as possible so they can attend the schools. These custodians don't seem to have a high priority on keeping the house in great shape. This sounds like student housing in any major city.
- muzz 10y agoThis is also why cities have occupancy rules, codes for maintenance, etc.
- telotortium 10y agoActually, I stumbled upon a Deleon (a major realtor in the South Bay) brochure yesterday, and due to the prices, they're willing to pay for a lot of complementary services to get your house sold (not surprising, since a $2 million sale will give the selling agent $60k, by the customary 3% fee, and they can make even more money if the buying agent is also employed by them). One of the services they advertise is ads on Chinese radio and newspapers.