4 ms·
The optimal vacancy rate isn't zero, renters (and relocating homeowners) need to be able to move and to reject bad landlords.
by erik_seaberg 2y ago
The optimal vacancy rate isn't zero, renters (and relocating homeowners) need to be able to move and to reject bad landlords.
- lotsofpulp 2y agoThe property tax rate function can easily be formulated such as a continuous power law function such that short periods of vacancy are not penalized.
- RhysU 2y ago"Easily" did a lot of work in your reply. What's the right period of vacancy to allow for 1, 2, 3, and 4-bedroom units as a function of floor level, direction faced, time of year, elevator or not, age of building, distance to school and transit, etc?
- lotsofpulp 2y agoWhy does all of that stuff matter to society? The unit can provide utility as long as it is fit to live in. The only question is what price people are willing to pay for it. We can even generously set it at 1 year just to start things off. If landlords are still too comfortable keeping units empty for the sole purpose of holding out for another price, then it can be revised lower.
- techdragon 2y agoYou have the problem backwards. We shouldn’t care what the vacancy rate is for residential properties at least, we should be focused on minimising the percentage of the population who are “seeking but unable to find housing” and yes that is deliberately constructed to avoid dragging the whole cycles and causes of homelessness into the mix. If you are actively trying to get some kind of dwelling, buying or renting, and have not yet managed to do so, then you count for the statistics. Speculation driven rises in residential real estate prices buy/rent are a plague on society and we need to stop framing the problem so that we lose sight of the purpose of housing, it’s to house people…