Submitted by _Hack_The_Planet_ t3_10p6m8o in boston
Roszo21 t1_j6klid3 wrote
Reply to comment by Acocke in Maura Healey wants to solve the state’s housing crisis. Here’s step one. by _Hack_The_Planet_
The unoccupied real estate thing is a really odd problem. You'd think with how valuable real estate is property wouldn't sit vacant, but when you start looking around for them, they're everywhere. There are three SFHs that have been empty long-term within a block of me. Two of them belong to elderly people in nursing homes without family and are just waiting for them to die. They've been vacant for years. The third had owners pass away and the kids are fighting over the list price for months.
RhaenyrasUncle t1_j6mtuyb wrote
Letting apartments sit vacant drives up demand for the other apartments nearby.
A landlord who owns multiple properties directly benefits from keeping demamd high.
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