This is why I really want to see carrying costs for all types of vacant real estate vastly increased via punitive property taxes triggered by vacancy. Phase it in over a few years to allow large property owners to adjust slowly without crashing markets, but it just doesn't feel right that there are so many vacant units being essentially held off the market to keep pricing far above equilibrium. This applies to homes and commercial properties such as retail and office too. If prices were at equilibrium, vacancy rates would be near-zero, just units which were between tenants.