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If expensive housing keeps selling then somebody must be living there… therefore it is solving the problem
by MagicMoonlight 4y ago
If expensive housing keeps selling then somebody must be living there… therefore it is solving the problem
- kibwen 4y agoIt's entirely common for luxury properties to be seen as investments. Having people actually live there would reduce their value as investments. See any of the new luxury skyscrapers in Manhattan, whose units are mostly vacant despite being sold. More luxury housing doesn't solve a damn thing.
- km3r 4y agoSo add a vacancy tax (like SF and Oakland have). Even though our vacancy rate shows this is not a problem currently.