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> There are not many people rich enough not to care about foregoing that much money every month. However, the few people who are that rich hold a wildly dispro
by 0xcde4c3db 10y ago
> There are not many people rich enough not to care about foregoing that much money every month.
However, the few people who are that rich hold a wildly disproportionate share of total real estate. I don't remember the exact numbers and am having trouble finding a decent reference, but it's something like 10% of real estate being held by the top 0.01%.
- mafribe 10y ago10% of real estate being held by the top 0.01%. First I doubt the veracity of such claims. Second, yes, you are right, there are real estate tycoons owning a lot of property, but they typically make their money by renting and selling dwellings, not by leaving them empty. For example which of the world's richest real estate tycoons in the list [1] is leaving substantial numbers of their property empty? My conjecture is: nobody. [1] https://www.forbes.com/sites/erincarlyle/2016/03/14/the-20-richest-real-estate-barons-in-the-world-2016/#7220bd636540 https://www.forbes.com/sites/erincarlyle/2016/03/14/the-20-r...