zlacker

>>eswat+(OP)
It's quite bizarre any jurisdiction would allow someone to buy housing there when they can't legally live in it.

>>causi+N4
> bizarre any jurisdiction would allow someone to buy housing there when they can't legally live in it

Foreign-owned homes are a problem for asset acquirers. Vacant homes are a problem for anyone who needs housing. The former seems to get a lot of visibilty when concerns around the latter get raised.

>>JumpCr+19
> Vacant homes are a problem for anyone who needs housing.

But they pay taxes without demanding any services and the seller assessed they had better use of the capital, they could buy or build a more suitable home.

If I lived in a location with 50% vacant homes all paying property taxes then wouldn’t my schools and streets and all local government services be extremely well funded?

>>alchem+Bc
Kind of by definition you can't pay more in taxes than you contribute to the economy, therefore unoccupied housing is a drain on the local economy.

>>causi+Sy
Your assertion flips economic principles on their head. Vacant homes paying taxes without drawing on local services represent a net gain, not a drain. Taxes paid on these properties directly fund public services, enhancing the community’s infrastructure without additional burden. Furthermore, the investment in property contributes to the economy through construction, maintenance, and property management industries. To claim that unoccupied housing harms the local economy is not logical.

Austrian economics teaches us that restricting foreign investment misinterprets how markets work. Vacant homes signal opportunities for builders, not losses for workers. Investment flows where it’s valued, stimulating demand and construction, not stifling growth. Misallocating housing due to artificial constraints only distorts the market, harming those you aim to help. Let’s not forget, economic growth comes from creating value, not redistributing scarcity.

>>alchem+AH
> To claim that unoccupied housing harms the local economy is not logical.

Sure, property taxes are paid on the house.

But unoccupied homes don't buy groceries and clothes, don't go to restaurants in the local economy.

So they do harm the economy, in the sense that they don't contribute as much to the economy as an occupied home.