3 ms·

The money is not "parked" in the real estate, it has been transferred to the seller.

• nitrogen 10y ago
  But the ongoing value derived from use of the real estate is lost. If someone were living there, both the seller and the local economy would benefit -- the seller got paid for the real estate, and the local economy benefits from the resident's own economic activity.
  • prostoalex 10y ago
    As long as property taxes are paid on time, the local economy has probably extracted bulk of renumeration from that property. In the age of giant corporate retail chains and Amazon, how much of the locals' spending goes towards their local butcher, seamstress, blacksmith, cobbler, milkman and vacuum repairmen anyways?
• jackvalentine 10y ago
  That's true and I chose a poor example.