Comment by imgabe
3 days ago
Why would you borrow money and use it to buy a house and leave it vacant? Now you're paying interest on top of everything else. Do you think wealthy people just light money on fire for no reason?
3 days ago
Why would you borrow money and use it to buy a house and leave it vacant? Now you're paying interest on top of everything else. Do you think wealthy people just light money on fire for no reason?
You rent out or naturally. If most buildings in a given area are rented out. Then the owners have leverage on the renters.
If there are more buildings than people who want to live in them, then the owners have no leverage. They have to compete for renters. You make that happen by building more housing.
But once you own a house, it's in your interest financially to stop others from building them. Either as a bloc or as a massive corporate landlord, pressuring cities to "retain the historic character of a neighborhood".