3 ms·
Except in this case, what is less profitable is investing in land/infrastructure that could serve as housing but leaving it vacant. That is not investment in h
by nephanth 2y ago
Except in this case, what is less profitable is investing in land/infrastructure that could serve as housing but leaving it vacant.
That is not investment in housing, simply speculation on land and buildings.
Investment in housing (ie actively rented places) are unaffected, so there is no reason there woukd be less investing on that front
- lottin 2y agoThat's not how businesses work. Nobody spends millions building a house so that they can leave it vacant once it's finished.
- nephanth 2y agoExcept they do. That is the problem. See for example: https://m.murciatoday.com/almost_half_a_million_vacant_new_builds_in_spain_that_no_one_wants_to_buy_2174512-a.html https://m.murciatoday.com/almost_half_a_million_vacant_new_b... https://www.investigate-europe.eu/en/posts/the-empty-house-a-window-into-europes-vacant-property-problem https://www.investigate-europe.eu/en/posts/the-empty-house-a... It isn't a particularly Spanish problem either: following article about the American version of it https://www.cbsnews.com/news/empty-office-buildings-doom-loop-cities-60-minutes/ https://www.cbsnews.com/news/empty-office-buildings-doom-loo...
- lottin 2y agoThese aren't examples of houses kept vacant intentionally by speculators. The first articles literally says in the headline that the houses are empty because "no-one wants to buy them". The second one states that the reason the flats are empty is "unlikely to be property speculation".