5 ms·
Before eeking out the small spaces in people's garages, we need to solve the issue of houses sitting empty due to money laundering and foreign investment. Why t
by nautilus12 8y ago
Before eeking out the small spaces in people's garages, we need to solve the issue of houses sitting empty due to money laundering and foreign investment. Why try to encourage people to convert their garages when they are hundreds of thousands of living units sitting completely empty for people's portfolios? I am libertarian, but I feel like in a housing crisis this is something that needs to be tamped down on ASAP
- tropo 8y agoThink about why an investment property might sit empty. At first glance, that seems absurd. An investor wants to earn money, and rent would be one way to get that. As high as rents might be, they are clearly not enough to put these properties on the market. Find the cause and fix it. Possible causes: too difficult to evict non-paying tenants, too difficult to sue tenants for damages, too many expensive upgrades required (fire protection, disability access, etc.), too difficult to avoid getting sued by the government, etc. Investors don't leave property idle for fun. There is a reason.
- whenchamenia 8y agoMany investors find a property momentarily unprofitable and set it on the back burner while the neighborhood they dont have to live in goes down the drain. It is a huge negative externality that affects millions directly. But prvitizing gains and socializing losses seems to be the cali way.