5 ms·

Why would an empty house not go up in value? If anything, if its unused, it'll likely require less upkeep/repairs.

bluedino 4y ago
Abandonded houses are often stripped of copper, etc and have squatters, vandals, problems from not being maintained or lived in...
- Eumenes 4y ago
  Abandoned? You know people own two homes and live in them seasonally w/o them being vandalized? Source: have a summer cabin that's never been rack sacked by vandals.
  - esafak 4y ago
    ransacked. Dictionary says it's from Norse: rann (house) + soekja (seek).
    - wlonkly 4y ago
      As perfected by the (Norse) Vikings!
- BearOso 4y ago
  These are usually gated areas where it's mostly huge model homes and they since few live there, outsiders would be be obvious.
spaceman_2020 4y ago
It simply means that housing is being bought up by people who don't need their investments to return any cash flow. Which is great if you're a wealthy oil tycoon from UAE or a Chinese billionaire. But not so great if you work in the city and want to buy a house for your family.
98codes 4y ago
If it's unused generally but also kept up, sure. That's generally not the case for empty houses.
yamtaddle 4y ago
Didn't look at a lot of long-term vacant properties during & after the '08 crisis, I take it? Modern houses aren't meant to survive in most climates, without heating and air conditioning. They grow mold from trapped humidity, and the finishes fall apart from expansion/contraction. And this is assuming they were properly winterized before being abandoned, and that they don't suffer any damage that allows outright water infiltration (say, wind damage or a tree branch falling and letting water in through the roof or siding) or vandalism. I've seen some that were starting to have serious problems less than a year after being abandoned. Thousands of dollars of damage already accrued. [EDIT] Now, keep the heating and AC running at minimal levels and have someone check in on it every few months, then fix any problems that are developing, and that's another matter—but that costs money, and isn't something I've ever seen done with long-term-vacant institution-owned properties.

Abandonded houses are often stripped of copper, etc and have squatters, vandals, problems from not being maintained or lived in...

Eumenes 4y ago
Abandoned? You know people own two homes and live in them seasonally w/o them being vandalized? Source: have a summer cabin that's never been rack sacked by vandals.
- esafak 4y ago
  ransacked. Dictionary says it's from Norse: rann (house) + soekja (seek).
  - wlonkly 4y ago
    As perfected by the (Norse) Vikings!
BearOso 4y ago
These are usually gated areas where it's mostly huge model homes and they since few live there, outsiders would be be obvious.

spaceman_2020 4y ago

It simply means that housing is being bought up by people who don't need their investments to return any cash flow. Which is great if you're a wealthy oil tycoon from UAE or a Chinese billionaire. But not so great if you work in the city and want to buy a house for your family.

98codes 4y ago

If it's unused generally but also kept up, sure. That's generally not the case for empty houses.

yamtaddle 4y ago

Didn't look at a lot of long-term vacant properties during & after the '08 crisis, I take it? Modern houses aren't meant to survive in most climates, without heating and air conditioning. They grow mold from trapped humidity, and the finishes fall apart from expansion/contraction. And this is assuming they were properly winterized before being abandoned, and that they don't suffer any damage that allows outright water infiltration (say, wind damage or a tree branch falling and letting water in through the roof or siding) or vandalism. I've seen some that were starting to have serious problems less than a year after being abandoned. Thousands of dollars of damage already accrued. [EDIT] Now, keep the heating and AC running at minimal levels and have someone check in on it every few months, then fix any problems that are developing, and that's another matter—but that costs money, and isn't something I've ever seen done with long-term-vacant institution-owned properties.