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The problem with absenteeism is that while taxes are still being paid to maintain city services, the city doesn't function correctly, because there's weak stree
by Tiktaalik 8y ago
The problem with absenteeism is that while taxes are still being paid to maintain city services, the city doesn't function correctly, because there's weak street life.
Here's an article about the struggles of retailers in Vancouver's Coal Harbour neighbourhood, which has estimates of around 20-25% empty housing.
https://www.theglobeandmail.com/real-estate/at-vancouvers-cold-harbour-a-neighbourhood-hollows-out/article11713598/ https://www.theglobeandmail.com/real-estate/at-vancouvers-co...
- toby 8y agoVancouver has a vacancy tax, which strikes me as a really good idea to avoid these problems. Does anyone know why these aren't more popular?
- nedwin 8y agoI can imagine they're difficult to enforce.
- refurb 8y agoEnforcement? People gaming the system so it doesn’t look unoccupied?
- ggcdn 8y agoI agree with you that it seems like a good idea. However, the vacancy tax is still in its infancy, so we've yet to fully understand its effectiveness or side-effects. A big issue around the housing discussion in Vancouver is the lack of data and amount of misinformation being injected into the discussion.
- peterburkimsher 8y agoThe Netherlands has a system where vacant properties may be occupied by squatters after they've been empty for a year. There's an active squatting scene in Amsterdam, particularly OT301 (an abandoned cinema, now an arts centre).
- TheBeardKing 8y agoIf the vacancies drive away business, which weakens street life, then would not the low street life drive down real estate prices?
- bradknowles 8y agoNope. Just ask the people in London who live among all the empty properties that have been bought by various Russian oligarchs or other people who want to exfiltrate their wealth from the countries where they "acquired" it.