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All of the data about vacation homes grossly underestimates the vacancy rate because of the US primary residence deduction. There's a higher rate of vacancies e
by tonymet 1y ago
All of the data about vacation homes grossly underestimates the vacancy rate because of the US primary residence deduction. There's a higher rate of vacancies even in non-vacation areas, and in vacation areas extremely high rates 75% or more for certain neighborhoods
Most likely investors are setting up phony identities and marking the homes as occupied to claim deductions