This. This. This. In both places I've lived in the Bay Area, there were vacant houses on the block. In the old town, apparently the house was owned by an old w

This. This. This. In both places I've lived in the Bay Area, there were vacant houses on the block. In the old town, apparently the house was owned by an old widow who is in a nursing home and who refuses to sell. In the new neighborhood, the house has fire damage. The owner apparently has several properties around the Bay, and just isn't in a hurry to do anything -- the house has been that way for five years or more. I hear from people living in Palo Alto that their neighborhoods are dotted with vacant homes owned by overseas investors. Meanwhile, people making $200k a year are commuting an hour each way because they can't afford to live any closer. Market rate property taxation would provide a strong incentive for these owners to either sell or rent out their properties.