News for hackers. Stuff that matters.
Re:LA pays $2600 per homeless tent, per month by onion2k on Wednesday May 26, 2021 @11:43PM (#27299155)
Yes, but property values in London are increasing at a rate that more than pays for that (many times over actually).
Re:LA pays $2600 per homeless tent, per month by maffydub on Thursday May 27, 2021 @12:23AM (#27299373)
Do you have any data on that?

Currently living in zone 2 north-east London and house prices have seemed pretty flat for the last couple of years. Flats have had a surge due to current stamp duty holiday... and prices outside London seem to have increased a lot with people anticipating a permanent move to remote/hybrid working.

Taxes on empty properties aren't high, but you still need to consider maintenance... and there's an opportunity cost of leaving a house empty rather than renting it out.

Just interested in your data - thanks!

Update: found https://www.actiononemptyhomes.org/pretty-vacant in one of your sibling posts - was that what you were referring to? I just read it (on my phone, so might have missed it), but didn't see any numbers for investment returns here... and there was a fairly-extensive section talking about London property being used for money-laundering instead - is that what you're referring to?

Re:LA pays $2600 per homeless tent, per month by simfree on Wednesday May 26, 2021 @11:54PM (#27299219)
Same in Seattle, my block has a 2017 constructed home that has never had occupants, owned by a non-resident from China. He owns at least a few other empty new homes in the inner suburbs as well.

About once every 2 weeks his son pops by to make sure the house has not burned down or had a pipe burst.

Re:LA pays $2600 per homeless tent, per month by iancmceachern on Thursday May 27, 2021 @01:29AM (#27299715)
Can I rent one of his houses?