The amount of empty units is staggering, but they are not there for you and me, they are there for people to use as investment tool. It’s just an asset to flip. It’s disgusting, and this type of shit should be banned.
Ban flipping homes, property transfer can’t happen for atleast 5 years after transfer unless you appeal to a board as there’s always extenuating circumstances. If you own more than 2 properties you are taxed at a obscenely high rate
And add in an ‘empty fee’. If a property sits empty for x amount of time, there’s a significant fee added per month until it’s sold or rented. Though people much smarter than me would have to figure out how to prevent rich assholes from just selling to each other to avoid the fee I suppose.
Bottom line, if you buy a place as an asset and the rental market dips below your liking, tough, rent it lower than you planned or get rid of it.
No one actively living in it. If it’s vacant after x amount of time, it’s priced too high. Lower the price to get someone in, or pay fees to keep it vacant. Basically, it should cost more than it’s worth to keep if you’re not going to rent it, creating incentive to price it affordably.
The amount of empty units is staggering, but they are not there for you and me, they are there for people to use as investment tool. It’s just an asset to flip. It’s disgusting, and this type of shit should be banned.
Ban flipping homes, property transfer can’t happen for atleast 5 years after transfer unless you appeal to a board as there’s always extenuating circumstances. If you own more than 2 properties you are taxed at a obscenely high rate
And add in an ‘empty fee’. If a property sits empty for x amount of time, there’s a significant fee added per month until it’s sold or rented. Though people much smarter than me would have to figure out how to prevent rich assholes from just selling to each other to avoid the fee I suppose.
Bottom line, if you buy a place as an asset and the rental market dips below your liking, tough, rent it lower than you planned or get rid of it.
Who determines what is “empty” and how?
No one actively living in it. If it’s vacant after x amount of time, it’s priced too high. Lower the price to get someone in, or pay fees to keep it vacant. Basically, it should cost more than it’s worth to keep if you’re not going to rent it, creating incentive to price it affordably.