Re:It could be years until we see a normal housing market
by pmorici on Thursday February 03, 2022 @09:10AM
(#30192573)
Wether a house is rented or owned by the person occupying it doesn’t effect the basic supply/ demand dynamics of the market. Punitive taxes on landlords isn’t going to cause housing prices to come down because the cause of high prices is a housing shortage. There is no indication supply is being artificially depressed by people letting houses sit unoccupied.
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Re:It could be years until we see a normal housing market
by BizarroLand on Thursday February 03, 2022 @06:38PM
(#30200643)
There are more than 40,000 vacant homes in San Francisco, report says:
https://www.sfgate.com/bayarea/article/how-many-vacant-homes...
Took me less than a minute to search this.
Re:It could be years until we see a normal housing market
by pandaman on Thursday February 03, 2022 @07:53PM
(#30201337)
The report [1] the article is referencing is talking about housing units so it's not just homes but apartments (and possibly rooms that can be rented as a unit?). Furthermore, the very same report gives the distribution of the vacant units, of which only 21000 could be possibly considered "hoarded" (this is assuming nobody does repairs and renovations, all rentals go up for rent as soon as the previous tenants move out, there is no corporate housing, no housing is involved in legal proceedings and the buyers move to the new house on the closing day), which makes 5% of total housing in SF. Does not look like a huge hoarding problem to me.
[1] https://sfgov.legistar.com/View.ashx?M=F&ID=10441217&...