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> Fortunately, the market is insane and they sold the place sight unseen to some Chinese dude for a significant profit. That's one of the larger issues with th
by ascagnel_ 10y ago
> Fortunately, the market is insane and they sold the place sight unseen to some Chinese dude for a significant profit.
That's one of the larger issues with the housing market: it's seen as an investment tool by foreigners (especially in hot markets where prices are rising like crazy), so you end up with tons of real estate that's not on the market but also not being used to actually house anyone.
- hx87 10y agoSounds like a two-tier property tax with a higher tier for unoccupied housing would be a solution.