Somewhat off topic but relates to laws and financing that makes it OK to leave valuable property vacant. In our neighborhood, 5 to 10% of the homes (single-family, good neighborhood—lot value near $2M) are empty, some for more than a decade. Without proof I attribute it to tax laws that mean the owner has to die to avoid inheritance taxes. The kids are well enough off that renting their parents house out for an indeterminate time is too much trouble.
Somewhat off topic but relates to laws and financing that makes it OK to leave valuable property vacant. In our neighborhood, 5 to 10% of the homes (single-family, good neighborhood—lot value near $2M) are empty, some for more than a decade. Without proof I attribute it to tax laws that mean the owner has to die to avoid inheritance taxes. The kids are well enough off that renting their parents house out for an indeterminate time is too much trouble.
Thanks for your input, Greg S. It’s all part of the problem.