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A comment on California will pay off all past due rent. Parent comment

Re:California will pay off all past due rent by spfzero on Tuesday June 22, 2021 @04:02PM (#27596461)
The largest fraction is the value of the land. The land is not more expensive because landlords own it, rather than homeowners. It's expensive because more people want to live on it, whether they own or rent. People want to live in certain areas, due to proximity to jobs, nice weather, transportation etc.

Homeowners speculate too. It would be hard to find someone buying a home who was not considering its future value.

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Re:California will pay off all past due rent by lucian1900 on Tuesday June 22, 2021 @05:37PM (#27597549)
Is that true? Arguably the vast majority of the value of the land is also due to speculation.

After all, most cities have large numbers of unoccupied homes, owned merely as a financial instrument.

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Re:California will pay off all past due rent by ipaddr on Wednesday June 23, 2021 @01:44AM (#27601149)
I haven't seen any unoccupied home that wasn't under immediate repair in a city in awhile. Not in bigger cities. The prices are going up so vacant places get sold if unneeded.
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Re:California will pay off all past due rent by lucian1900 on Wednesday June 23, 2021 @03:45AM (#27601886)
London and Dublin famously both have large numbers of luxury homes entirely unoccupied, used as investment vehicles. The number of empty homes in fact exceeds the number of homeless people.
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Re:California will pay off all past due rent by ipaddr on Wednesday June 23, 2021 @03:28PM (#27608927)
The parent comment said North America. Property rights seem different in England.. if someone moved into that vacant home for 7 years they can claim the right not to be removed. I guess these big homes have security.
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Re:California will pay off all past due rent by lucian1900 on Wednesday June 23, 2021 @04:29PM (#27609871)
They’re mostly luxury flats in central areas, requiring little in the way of security. Squatting is impractical in this case.
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